HSH Nordbank issues its second public-sector jumbo Pfandbrief

Hamburg/Kiel, June 28, 2007 - HSH Nordbank AG has successfully placed its second public-sector jumbo Pfandbrief with a face value of 1 billion euros among institutional investors. The Pfandbrief has a three-year term, maturing on June 28, 2010, and pays a coupon of 4.625%. The issue price is 99.795%, with a re-offer yield of 4.70%. The spread is 9.5 basis points below the mid-swap rate and 15.4 basis points above the 146 Series 3.25% German government bond (maturing in April 2010).

The Pfandbrief is rated Aaa by Moody’s. HSH Nordbank, BayernLB, Citigroup, Commerzbank, DZ Bank, LBBW, HSBC and JP Morgan lead managed the issue.


“With this Jumbo Pfandbrief, we have taken the opportunity of the favorable market and the strong demand for covered bond issues with short-term maturities,” said Jochen Friedrich, member of the Managing Board and responsible for the capital market activities. This transaction is part of HSH Nordbank’s comprehensive funding strategy aimed at positioning itself on the capital markets and simultaneously supporting pursuit of its strategic banking targets.


HSH Nordbank AG is a strong regional bank in Northern Europe with total assets of € 200 billion. Some 4,400 of the bank’s employees provide corporate and high net-worth clients around the globe with premium bank products and services. In its core region of Hamburg and Schleswig-Holstein, it is the market leader in the corporate customer segment. HSH Nordbank is an acknowledged partner of the capital markets and international sector specialist. Its main focus is on transportation and real estate. In fact, HSH Nordbank is the world’s largest provider of ship finance and covers the entire value chain in the transportation segment. In the area of real estate, HSH Nordbank is one of the strongest banks in Germany, acting as a provider of services relating to all aspects of real estate. For more information please visit our website at www.hsh-nordbank.com.

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.

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