The bank said that the bond was placed at a spread of 55 basis points over the mid swap rate. The coupon is 3.75%. The Pfandbrief has been rated Aaa by Moody´s and AAA by Standard & Poor´s.
The issue was oversubscribed more than 5 times, with over 170 orders in the book; final placement was 64% in Germany with the remainder placed with other European investors. 49% was placed with asset managers, pension funds and Central Banks.
Rainer Rauleder, Deputy Group Treasurer, said: The large demand is indicative of the high level of investor trust in Deutsche Bank. The Pfandbrief further expands our stable and cost-effective refinancing structure and we look forward to future issuance in this market.
Deutsche Bank obtained a licence in April 2009 to issue Mortgage Pfandbriefe from the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).
