UniCredit Bank AG (HypoVereinsbank) successfully placed a 10-year Mortgage Pfandbrief benchmark. The issue was wellaccepted by the investors and the lead managers placed a volume of € 500 million. The joint-lead managers of this issue were Commerzbank, Credit Agricole, DZ BANK, J.P. Morgan and UniCredit.
The new Mortgage Pfandbrief carries an annual coupon of 1,875% and has a term of 10 years. The issue price was set at 99,459%, which resulting in a re-offer spread of 12 basis points above the mid-market swap rate. The value date for the issue is 09 April 2014 and maturity is 09 April 2024. Mortgage Pfandbriefe issued by UniCredit Bank AG are awarded the high rating of Aa1 by Moody's and AAA by Fitch.