Deka in demand with DZ Hyp Pfandbrief to follow

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By Bill Thornhill
12 Apr 2021

DekaBank’s sub-benchmark Pfandbrief issued on Monday was more than three times subscribed and was priced through fair value, boding well for a follow-on Pfandbrief from DZ Hyp for launch on Tuesday.

DekaBank opened order books on Monday for a €250m April 2031 with price guidance of 3bp area over mid-swaps through joint leads Commerzbank, DekaBank and Natixis.

The public sector loan backed deal, rated Aaa by Moody's, was priced a few hours later at 2bp through swaps with demand ...

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