10.07.2012

NORD/LB issues the world´s first Aircraft Pfandbrief

NORD/LB Norddeutsche Landesbank issued the world’s first Aircraft Pfandbrief today. The Pfandbrief has a volume of 500 million Euros, five-year maturity and the spread was fixed with 55 basis points over mid-swap. Following a two-week roadshow in Germany and the neighbouring Euro-countries, the Pfandbrief was launched by the bookrunners NORD/LB, Commerzbank, Deutsche Bank, Royal Bank of Scotland and Unicredit.

After only two hours of marketing, final book reached more than two times size of targeted benchmark volume allowing to reduce initial spread talk from 60 area to 55. The final order book of the Aircraft Pfandbrief recorded more than 60 accounts with individual orders between 1 million and 100 million Euros. In line with expectations, 95 percent of the volume was sold to insurance companies, savings banks, asset managers, funds and pension funds in Germany.

“NORD/LB, as an international leader in aircraft financing, has accelerated the introduction of the Aircraft Pfandbrief as a new asset class”, said Dr. Hinrich Holm, responsibel board member for the bank’s capital markets business. Aircraft financing has proven itself as a long-term, value driven and strongly growing business sector. “NORD/LB has decades of experience and comprehensive expertise in aircraft financing and is also a renowned and experienced Pfandbrief issuer. This new Aircraft Pfandbrief extends the banks refinancing instruments. The strong demand for this product is an indication of NORD/LB’s good standing in the markets”, Holm stated.

The Aircraft Pfandbrief of NORD/LB has a coupon of 1.625%, primary settlement is July 17, 2012. The issue is rated “A2” by Moody’s.


DISCLAIMER | THIS PRESS RELEASE IS FOR INFORMATION PURPOSES ONLY AND NOTHING IN THIS PRESS RELEASE CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. IN PARTICULAR, THIS PRESS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR THE UNITED KINGDOM. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION. THERE WILL BE NO PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES. THIS PRESS RELEASE IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES OR TO ANY US PERSON (AS DEFINED IN REGULATION S UNDER THE US SECURITIES ACT OF 1933, AS AMENDED). IN THE UNITED KINGDOM, THIS PRESS RELEASE IS ONLY BEING DISTRIBUTED TO AND IS ONLY DIRECTED AT PERSONS AT OR TO WHOM IT CAN BE LAWFULLY BE SITRIBUTED OR DIRECTED.


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