On February 22nd 2012, Deutsche Bank AG successfully launched a EUR 500 million seven-year mortgage 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..
Crédit Agricole CIB, Deutsche Bank, Natixis and UniCredit acted as joint bookrunners in this benchmark transaction.
With total orders of over EUR 2 billion, the bond was four times over-subscribed, with 100 accounts involved. Geographically, the largest demand came from German investors which were allocated 64% of the issue. United Kingdom and French accounts followed with allocations of 11% and 5 %. Swiss investors took 5%, Italy and Austria 4% each.
It was the third Pfandbrief issued by Deutsche Bank, and with the 7 year maturity the longest benchmark deal from any German issuer in 2012.