MünchenerHyp issues a € 750 million seven-year mortgage Pfandbrief
Münchener Hypothekenbank eG (MünchenerHyp) today has issued a mortgage Pfandbrief with a volume of € 750 million and a term of seven years. The spread is 3 basis points below mid swap. The coupon is 0.125 percent.
"In a very attractive market environment, we have succeeded with this issue in attracting investors who specifically invest in shorter maturities," said Dr Louis Hagen, Chairman of MünchenerHyp's Board of Management.
"We are very pleased with the national and international demand for our benchmark mortgage Pfandbrief. Once again, we were able to impressively demonstrate our placement power," said Martin Schmid, Head of Strategic Funding and ALM at MünchenerHyp.
In total, more than 50 orders were placed from 7 countries. The regional focus was Germany, which accounted for around 84 percent of the issue volume. The largest investor group was central banks with around 50 percent of the issue volume, followed by asset managers with 24 percent and banks, which acquired almost 20 percent of the issue volume.
The transaction was lead managed by Barclays, Deka Bank, DZ Bank, LBBW, Santander and Unicredit.
The rating agency Moody's is giving MünchenerHyp's mortgage Pfandbriefe its highest rating of Aaa.