Berlin Hyp issues a successful dual tranche
Summary
Berlin Hyp issues dual tranche with a volume of 1.5 billion, combining a conventional Pfandbrief with a Green PfandbriefBerlin Hyp issued its dual tranche of 1 billion and 500 million respectively on Tuesday. Reoffer yields are 2.693% for the four-year bond and 2.862% for the long seven-year bond.On Tuesday morning at around 8.45 a.m., the syndicate banks mandated by Berlin Hyp ABN AMRO, Barclays, BayernLB, Commerzbank, Credit Agricole, DekaBank, DZ BANK, Erste Group, HSBC, JP Morgan, LBBW, Natixis, Nordea, UBS and UniCredit opened the order books at a spread of mid-swap +35 for the four-year Pfandbrief and mid-swap +45 basis points for the long seven-year Green Pfandbrief. By choosing a dual tranche with maturities of four and long seven years, as well as the ESG label of the longer-tenured bond, we struck a chord with investors. The substantial oversubscription and the high quality of the entire order book signify a vote of confidence for Berlin Hyp. I would like to take this moment to sincerely thank our investors for their trust and support, not only for this transaction, but also over the past years," says Teresa Dreo-Tempsch, who is responsible for capital market business on the Board of Management of Berlin Hyp.