Hypo Real Estate Bank International, Dublin, has successfully issued its inaugural US Dollar (USD) benchmark bond under its MTN-Programme.
The issue, with a duration of five years, pays a coupon of 3-month-US-LIBOR +0.20%. It is listed in Dublin and Luxembourg. Joint lead managers are Barclays Capital, Deutsche Bank and HSBC. The selling group comprises Daiwa Securities, DZ Bank, NATEXIS and RZB. The Reoffer-Price was fixed at 99.815%.
The bank's first US-Dollar issue was preceded by an investor marketing road show throughout Europe, and also in Asia. Due to strong demand the issue was well oversubscribed. As a result of approaching a wider geographical distribution of investors, the bank achieved its objective in securing many new investors.
Source: Hypo Real Estate Bank