NORD/LB's second Pfandbrief issue this year met with lively interest on the market. The order book opened at 8:50 am and closed again at 11:00 am. With a volume of € 2 billion, it was four times oversubscribed. Almost half of the issue was placed with international investors. In addition, the bond was mainly sought after by banks and savings banks in German-speaking countries. The coupon is 3.125%, the yield is 3.205%, which corresponds to a discount to the swap midpoint of one basis point.
DZ Bank, Natixis, NORD/LB, UBS and UniCredit Bank acted as joint lead managers for the transaction.
NORD/LB Norddeutsche Landesbank is one of the leading German commercial banks. The core business segments include business with corporate customers, private and commercial customers including private banking as well as special finance in the energy and infrastructure sector, aircraft finance and commercial real estate finance. The bank is headquartered in Hanover, Brunswick and Magdeburg and has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf and Munich. Outside Germany NORD/LB is represented by a Pfandbrief Bank (NORD/LB Covered Bond Bank) in Luxembourg and branches in London, New York and Singapore.