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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: EUR500m
  • Maturity date: 19 November 2032
  • Re-offer price: 99.234
  • Coupon: 2.750%
  • Swap spread: 39bp
  • Government spread: 45.9bp
  • Pricing date: 28 January 2025
  • Settlement date: 5 February 2025
  • Bookrunners: ABN Amro, Barclays, BayernLB, Commerzbank, Credit Agricole, DekaBank, DZ, Erste, HSBC, JP Morgan, LBBW, Natixis, Nordea, UBS, UniCredit
  • Country: Germany
  • ISIN: DE000BHY4US2
  • Collateral type: Mortgage
  • The CBR bond ID: 3051
  • Green, social, sustainability description: Green
  • Notes: Last Berlin Hyp benchmark issuance before integration into LBBW. Simultaneous with EUR1bn February 2029 mortgage Pfandbrief. Book above EUR2.4bn. Banks 58%, asset managers 31%, insurance companies 6%, central banks/official institutions 5%. Germany 59%, southern Europe 11%, Nordics 10%, Austria/Switzerland 9%, Benelux 6%, UK/Ireland 2%, France 2%, other 1%.

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