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Deutsche Pfandbriefbank issues 19-year bond

DeutschePfandbriefbank AG issued a 19-year, €500 million public sector pfandbrief.

Issued April 13, the bond carries a coupon of 1.25% andmatures April 20, 2035. Based on the reoffer price of 99.647%, the bond has ayield of approximately 1.271%. The spread is 25 basis points over midswaps.

The 19-year tenor is the longest for a pfandbrief benchmark,the bank said.

Bayerische Landesbank, BNP, Commerzbank, Landesbank BadenWürttemberg and Norddeutsche Landesbank acted as lead managers for the deal.