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These are the details of the selected bond:

  • Issuer: Berlin Hyp
  • Covered bond rating(s) at launch: Aaa (Moody's)
  • Amount: EUR1,000m
  • Maturity date: 5 February 2029
  • Re-offer price: 99.745
  • Coupon: 2.625%
  • Swap spread: 28bp
  • Government spread: 40.8bp
  • Pricing date: 28 January 2025
  • Settlement date: 5 February 2025
  • Bookrunners: ABN Amro, Barclays, BayernLB, Commerzbank, Crédit Agricole, DekaBank, DZ, Erste, HSBC, JP Morgan, LBBW, Natixis, Nordea, UBS, UniCredit
  • Country: Germany
  • ISIN: DE000BHY3ND1
  • Collateral type: Mortgage
  • The CBR bond ID: 3050
  • Green, social, sustainability description: unlabelled
  • Notes: Last Berlin Hyp benchmark issuance before integration into LBBW. Simultaneous with EUR500m November 2032 green mortgage Pfandbrief. Final book above EUR3.4bn with 88 accounts. Banks 52%, asset managers 29%, central banks/official institutions 15%, insurance companies 4%. Germany 39%, Nordics 24%, southern Europe 13%, Austria/Switzerland 13%, UK/Ireland 8%, Benelux 2%, other 1%.

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