NORD/LB issues Pfandbrief in benchmark format

NORD/LB Norddeutsche Landesbank successfully issued a mortgage Pfandbrief with a benchmark volume of € 500 million yesterday. Maturing in March 2030, the bond has a maturity of just over 7 years, with an expected Moody's rating of Aa1.

In a challenging market environment, the issue was mainly sought after by banks, with 16% placed with international investors. The coupon is 2.875% and the yield is 2.973%, which represents a 15 basis point premium to the swap midpoint. The order book opened at 8:35 a.m. and closed again at 11:15 a.m.

Crédit Agricole CIB, DZ Bank, Erste Group, Helaba, ING and NORD/LB acted as joint lead managers for the transaction.

Press release as PDF-Download


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.