Hamburg Commercial Bank issues senior non-preferred benchmark bond

  • Volume of EUR 500 million significantly oversubscribed

Hamburg, September 15, 2021 - Hamburg Commercial Bank (HCOB) issued its second benchmark bond in the current year on Tuesday, attracting strong interest from international investors. The benchmark bond has a 5-year maturity with a call option after four years.

The order books were opened on Tuesday morning by the mandated syndicate banks Commerzbank, Deutsche Bank, Goldman Sachs, HSBC and Natixis with an initial spread indication of around +110 basis points over swap midpoint. With very high demand from institutional investors, the oversubscribed order book was closed at midday with a final spread of +90 basis points over swap midpoint. The senior non-preferred bond is rated "Baa2" by Moodys.

"Hamburg Commercial Bank is active as a regular issuer in the capital market. The high demand as well as the pricing achieved reflect the confidence of investors. With the benchmark bond issued today, the Bank continues to consistently expand its investor base both nationally and internationally," said Ian Banwell, CFO of Hamburg Commercial Bank. The bond was widely placed in Europe. The UK and Ireland account for the highest share with over one third, followed by France and Scandinavia. Around one third of the bond volume went to German investors.

The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.

This press information can contain forward-looking statements. These statements are based on our beliefs and assumptions, on information currently available to us which we consider reliable. Forward-looking statements include all statements which are not historical facts, including information concerning future growth prospects and future economic developments.

Such forward-looking statements are based on assumptions relating to future events and are subject to uncertainties, risks and other factors, a large number we cannot influence. Thus actual events can differ considerably from the forward-looking statements made. We make no warranty for the correctness or completeness of these statements or the actual occurrence of the statements made. Furthermore, we assume no obligation for updating the forward-looking statements after this information has been published.