Rating: Aaa/AAA/AAA
Amount: Z100m
Maturity: February 22, 2002
Issue price: 100.05
Fixed re-offer price: 99.15
Coupon: 16%
Launched: Monday February 12
Lead mgr: TD Securities
* DePfa Deutsche Pfandbriefbank AG
Rating: Aa3/AA- (Moody's/Fitch)
Amount: Z100m
Maturity: February 22, 2002
Issue price: 100.012
Fixed re-offer price: 99.137
Coupon: 16%
Launched: Friday February 9
Joint books: Deutsche Bank, RBC DS
* Deutsche Bank Finance NV
Guarantor: Deutsche Bank AG
Rating: Aa3/AA/AA
Amount: Z300m (increased 14/02/01 from Z225m)
Maturity: February 23, 2011
Issue price: 39.971 (increase: 39.96)
Fixed re-offer price: 38.721 (increase: 38.71)
Coupon: zero
Launched: Tuesday February 13
Lead mgr: Deutsche Bank
Bookrunner's comment:
We were active last year in zeros, but have not been so much this year. Rates, and especially the currency, have been rallying recently, so investors can again bet on the curve while maintaining lower currency exposure.
Ten years is a very long maturity for zero coupon issues in this currency. We sold it mainly to German and Austrian investors.
* GMAC International Finance BV
Guarantor: General Motors Acceptance Corp
Rating: A2/A/A
Amount: Z300m
Maturity: February 23, 2005
Issue price: 62.30
Fixed re-offer price: 61.30
Coupon: zero
Launched: Friday February 9
Lead mgr: Morgan Stanley Dean Witter
Bookrunner's comment:
We had one big lead order from a German client - there is a lot of this kind of paper going into Germany and Austria.
Although Z300m is not so big for a zero coupon deal, there is a general upward trend in the size of issuance in this currency. Some of the new issues this year are already being tapped.
* Norddeutsche Landesbank Girozentrale
Rating: Aa1/AAA (Moody's/Fitch)
Amount: Z60m (fungible with Z100m issue launched 16/01/01)
Maturity: February 2, 2004
Issue price: 99.847
Fixed re-offer price: 98.672
Coupon: 13.25%
Launched: Monday February 12
Lead mgr: Deutsche Bank
* World Bank
Rating: Aaa/AAA/AAA
Amount: Z100m (fungible with Z100m issue launched 04/01/01)
Maturity: January 11, 2002
Issue price: 100.80
Fixed re-offer price: 99.90
Coupon: 17%
Launched: Friday February 9
Joint books: Morgan Stanley Dean Witter, TD Securities
