Hamburg Commercial sells sophomore pref senior

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By Frank Jackman
02 Mar 2021

Hamburg Commercial Bank (HCB) returned to the senior preferred market for the first time in 21 months this week, extending its maturity curve as it works on finishing a multi-year transformation plan following its privatisation.

HCB (Baa2/BBB) — formed out of the privatisation of HSH Nordbank in 2018 — is part-way through its transformation programme.

It aims to enter the Association of German Banks (BdB) and join its deposit protection scheme in early 2022.

As part of the transformation plan, the bank is undertaking a ...

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