pbb Deutsche Pfandbriefbank has placed a €500m senior unsecured benchmark bond on the German market, offering a coupon of 1.25 percent. The 3-year attracted €700m in orders from 100 local and foreign institutions. BayernLB, Commerzbank, Deutsche Bank, NORD/LB and UniCredit acted as Joint Lead Managers. Bankhaus Lampe and National Australia Bank acted as Co-Lead Manager.
Senior unsecured funding is a complementary source of funding for pbb, which relies primarily on covered bonds as its primary funding instrument. The year has begun brightly for pbb Pfanbriefbank, as it successfully placed a €750m in pfandbrief securities in mid-January.
