HSH Nordbank issues € 500 million mortgage Pfandbrief

Hamburg/Kiel, October 17, 2018 - HSH Nordbank has placed a mortgage Pfandbrief in the amount of € 500 million and with a term of three and a half years. The issue, secured mostly by loans on commercial properties in Germany, pays fixed interest with an annual coupon of 0.25 percent.

The order book was opened on Wednesday by a syndicate comprising Crédit Agricole CIB, Commerzbank, Goldman Sachs International, HSH Nordbank and Natixis with guidance of +18 basis points above the mid-market swap rate and was significantly oversubscribed with a figure of € 1.4 billion, meaning that the issue was priced at +14 basis points above the mid-market swap rate. 37 percent of the bond volume was subscribed by international investors. Moody’s has given the mortgage Pfandbrief an Aa3 rating.

“This second benchmark Pfandbrief in the current year represents a successful continuation of our funding via the capital market. The great interest from within and outside Germany reflects the confidence of investors in the business model of our Bank, which will soon be privatised,” said Mark Bussmann, Head of Treasury & Markets at HSH Nordbank.

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