German investors get hyped up over DG

By Bill Thornhill
17 Jul 2014

German bankers, who had been busy nursing sore heads after celebrating their country’s World Cup victory last Sunday night, will not have been overly taxed by DG Hypothekenbank’s drive-by Pfandbrief syndication on Monday. Being the rarest issuer from one of the most technically squeezed jurisdictions in Europe, a strong outcome was never in doubt. Painkillers were however required for the allocation process.

DG Hyp opened books on Monday for a €500m seven year Hypothekenpfandbrief. The issuer had mandated leads Crédit Agricole CIB, Dekabank, DZ Bank, Helaba and WGZ for the AAA rated (Standard and Poor’s) deal on Friday afternoon.

At 8.30am UK time leads announced initial price thoughts of ...

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