BHH dodges headline risk to score success

By Bill Thornhill
16 Apr 2014

After mandating leads for a roadshow at the end of March, Berlin Hypothekenbank (BHH) opened books on Monday for a €500m seven year Pfandbrief. Though the deal had been widely anticipated, bankers said Ukrainian headline risk could have derailed its timing.

BHH had issued €1bn-sized deals on the past three occasions, but with €500m deal sizes fast becoming the norm in Germany, and because of their ease of execution, the issuer opted for the smaller transaction size on this occasion.

Despite the smaller size, it was by no means ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial