NORD/LB issues Public Sector Pfandbrief (Öffentlichen Pfandbrief)

  • Order books closed after 15 Minutes in excess of € 1 billion
  • Issue volume € 500 million, coupon 0.025 per cent

NORD/LB Norddeutsche Landesbank has issued a Public Sector Pfandbrief (Öffentlichen Pfandbrief) with a volume of € 500 million. The term of the issue is four years. Shortly after the order book was opened, it had been allocated and was closed again. After just 15 minutes, purchase orders had been received from institutional investors from eight nations with a volume of more than € 1 billion.

“We could have priced the transaction with a zero coupon slightly below par”, explained Dr. Hinrich Holm, responsible Board Member for NORD/LB’s capital market business. Many investors are not yet technically able to process Pfandbrief issues with zero coupons, therefore the coupon was fixed at 0.025 percent. “The strong demand and placement in record time underline NORD/LB’s good standing in the market,” stated Holm. The return on issue is 0.057 per cent and therefore 18 basis points below the reference swap rate.

The NORD/LB Pfandbrief’s value date is the 19 February 2015. The issue’s ISIN is XS 1191428652 and is rated AAA /Aaa (Fitch / Moodys).


NORD/LB Corporate Communication
Friedrichswall 10
30159 Hannover

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