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05/28/2010 / GERMANY / DEBT & CREDIT MARKETS
Crédit Agricole CIB joint bookrunner of mortgage covered bond for Deutsche Hypothekenbank (Actien-Gesellschaft) Hannover
On 17th May 2010 Deutsche Hypothekenbank (Actien-Gesellschaft) successfully placed a EUR 600 million 5-year mortgage covered bond.
Crédit Agricole CIB, DekaBank, DZ Bank, NORD/LB and UniCredit acted as joint bookrunners for this transaction.
The high quality of the issuer and the strong name recognition enabled the bookrunners to reopen the EUR financials primary market after a three week stand still. The final order book ended up at around EUR 900 million and was underlined by a strong demand from funds and central banks across Europe.
Deutsche Hypothekenbank (Actien-Gesellschaft) represents one of the five leading mortgage banks in Germany. The bank offers financing and consultancy services primarily to professional real estate customers. The bank also engages in capital market transactions with German and foreign market operators. In addition, it issues mortgage and public PfandbriefGerman Pfandbriefen, whose origins date from 1769 and whose current regime is set by a law revised in 1998, are bonds backed by very high quality assets, primarily mortgage loans including a mortgage clause on the buildings financed as well as government loans to local government bodies (communal loans) and other public entities.e bonds, and provides lending and refinancing services.