Hypo Real Estate Bank International, Dublin, has successfully issued its second benchmark bond. The issue with a size of EUR1.25bn, was met with great interest in the capital markets. The issue, with a duration of five years pays a coupon of 3-months- Euribor +25bp. The issue is listed in Dublin and Luxembourg. Joint lead managers are Barclays Capital, Deutsche Bank, Dresdner Kleinwort Wasserstein, DZ Bank and HypoVereinsbank.
Georg Funke, CEO of Hypo Real Estate Bank International and Chairman of the Managing Board of Hypo Real Estate Holding AG: 'The success of our second Benchmark transaction really reflects the acceptance of the capital markets of the business model of Hypo Real Estate Bank International and of Hypo Real Estate Group“.
The second Benchmark issue was preceded by an extensive investor marketing roadshow in Austria, France, Germany, Italy, Ireland, Luxemburg, the Netherlands, Scandinavia and the UK. The demand was so strong that book building had to be finished already on Monday, two days earlier than originally planned. Therefore, the Reoffer-Price of 99,667% was fixed at the lower end of the originally planned price range.
Eckehard Dettinger-Klemm, a member of the board of executive directors of Hypo Real Estate Bank International, responsible for Treasury & Rates: 'The highly positive response of investors demonstrates that Hypo Real Estate Bank International has positioned itself successfully in the capital markets within less than 12 months. This acceptance is a result of continuous communication with our investors and the Banks clear-cut funding strategy.“
Source: Hypo Real Estate Bank