PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Germany's Postbank re-opens Jumbo Pfandbrief market after hiatus
The German Postbank, a unit of the German Post Office in the process of being sold to Deutsche Bank, has successfully place the first Jumbo Pfandbrief covered bond issued for several months, saying that the e1bn issue was twice oversubscribed. The securities were paying 85 basis points over five year swap rates, the maturity of the issue, which was offered in tranches as low as e1,000. Postbank is the largest mortgage financier in Germany, much of through the BHW building society which it bought in 2006.