Enquired: Public Pfandbrief 2041 in Jumbo format by DKB
In the last week of January, DKB placed a 15-year Public Pfandbrief in Jumbo format at swaps +42bp.
Christian Walburg
Association of German Pfandbrief Banks
Did the underlying lending business perform so strongly, or how did you achieve an issue volume of €1 billion for the first time in 20 years?
Rico Noack
Deutsche Kreditbank AG
DKB is growing rapidly and is expanding its capital market activities as a result. The market environment appeared very attractive for trying out a Jumbo Pfandbrief after a long time, which we succeeded in doing with flying colours. The transaction fits well into our funding plans, and its successful outcome demonstrates that we have stable, diversified access to markets and are capable of successfully placing even larger volumes.
Christian Walburg
Association of German Pfandbrief Banks
Why doesn't DKB issue Social Pfandbriefe? Is the market saturated?
Rico Noack
Deutsche Kreditbank AG
With our fifth Social Housing Bond (Social Mortgage Pfandbrief) and the first EU Green Bond (senior preferred) from a German bank, last year we once again set important milestones in sustainability. Social Pfandbriefe will continue to play a central role in our capital market activities in the future, as a large part of our lending business is dedicated to financing public services.
Christian Walburg
Association of German Pfandbrief Banks
What other ambitions does DKB have for the current calendar year?
Rico Noack
Deutsche Kreditbank AG
With this issue, we are well positioned with regard to our potential refinancing target of currently around €2.5 billion in 2026. Pfandbriefe remain the central instrument of our capital market activities. At the same time, we maintain flexibility in our issuance activities, which are geared to both market conditions and the development of our deposits.
Christian Walburg
Association of German Pfandbrief Banks