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29.09.2011 Firmenkunden
UniCredit Bank AG (HVB) has successfully reopened the market with a €500 million Covered Bond due October 2015

UniCredit Bank AG (HVB) successfully re-opened the market for covered bonds with the issue of a 4-year Mortgage Pfandbrief. Despite of the challenging market environment the Pfandbrief issue was well-accepted by the investors and the lead managers placed a volume of € 500 million.
An € 500 million issue size has become quite common among Pfandbrief issuers and has recently been included into the iBoxx.
The joint-lead managers of this issue were Commerzbank, LBBW, Natixis, Santander GBM and UniCredit.
The new Mortgage Pfandbrief carries an annual coupon of 2.125% and has a term of 4 years. The issue price was set at 99.777%, which resulting in a reoffer spread of 35 basis points above the mid-market swap rate. The value date for the issue is October 5, 2011 and maturity is October 5, 2015. Mortgage Pfandbriefe issued by UniCredit Bank AG are awarded the high rating of Aa1 by Moody's and AAA by Fitch.

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