{"id":29917,"date":"2023-02-10T11:44:14","date_gmt":"2023-02-10T10:44:14","guid":{"rendered":"https:\/\/saarlb.de\/another-very-successful-placement-of-a-public-sector-pfandbrief-in-the-sub-benchmark-format-by-saarlb\/"},"modified":"2023-02-10T12:45:54","modified_gmt":"2023-02-10T11:45:54","slug":"another-very-successful-placement-of-a-public-sector-pfandbrief-in-the-sub-benchmark-format-by-saarlb","status":"publish","type":"post","link":"https:\/\/saarlb.de\/en\/another-very-successful-placement-of-a-public-sector-pfandbrief-in-the-sub-benchmark-format-by-saarlb\/","title":{"rendered":"Another very successful placement of a public sector Pfandbrief in the sub-benchmark format by SaarLB"},"content":{"rendered":"\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<p>When the <strong>books opened last Tuesday at 8:50<\/strong> and then filled up very briskly, it soon became clear that the announced volume of <strong>EUR 250 million<\/strong> for our <strong>public sector Pfandbrief<\/strong> would quickly be reached.<br\/><br\/>&#13;\n&#13;\nFollowing on from the Pfandbriefe with maturities of ten and seven years that had also previously been issued successfully, this time the bond was issued with a <strong>term of five years<\/strong> and 3.00%.<br\/><br\/>&#13;\n&#13;\nBy about <strong>10:30<\/strong>, the volume had already reached over EUR <strong>925 million<\/strong> so the <strong>book closing time of 11:00<\/strong> was announced early, too.<br\/><br\/>&#13;\n&#13;\n\u201cWe can, of course, once again attribute the high over-subscription of our Pfandbrief in the sub-benchmark format to a combination of a good spread level, our market reputation, right timing and an excellent execution strategy,\u201d says <strong>Gunar Feth, Deputy Chairman of the Board of Management of SaarLB.&#13;\n<\/strong><br\/><br\/>&#13;\nAnother particularly positive aspect worth pointing out is the high order share of over <strong>80% from German banks and savings banks.&#13;\n<\/strong><br\/><br\/>&#13;\nDespite the early announcement of the book closing time, there was tremendous interest in our public sector Pfandbrief until the books closed. Consequently, the final reoffer spread could be set at a <strong>stable order book of over EUR 940 million at MS +7bp.&#13;\n<\/strong><br\/><br\/>&#13;\n\u201cAs we mainly refinance ourselves on the money and capital markets, this type of refinancing is a very suitable instrument for this for us. It is particularly pleasing that we were able to prevail in a challenging new issue environment today, which also certainly speaks for our quality,\u201d adds <strong>Gunar Feth.&#13;\n<\/strong><br\/><br\/>&#13;\nWith the help of the arrangers involved, namely \u2018Erste Group\u2019, \u2018DekaBank\u2019, \u2018LBBW\u2019 and \u2018UniCredit\u2019, we were once again able to successfully place a public sector Pfandbrief in the sub-benchmark format on the market.&#13;\nFurther detailed information on the issue can be found on our website in the <a href=\"https:\/\/saarlb.de\/en\/investor-relations\/investors-information\/\">\u201cInvestor Relations\u201d<\/a> section.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When the books opened last Tuesday at 8:50 and then filled up very briskly, it soon became clear that the announced volume of EUR 250 million for our public sector Pfandbrief would quickly be reached. &#13; &#13; Following on from the Pfandbriefe with maturities of ten and seven years that had also previously been issued [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":29922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[63,60],"tags":[],"class_list":["post-29917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homepage","category-press-release"],"acf":[],"_links":{"self":[{"href":"https:\/\/saarlb.de\/en\/wp-json\/wp\/v2\/posts\/29917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/saarlb.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/saarlb.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/saarlb.de\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/saarlb.de\/en\/wp-json\/wp\/v2\/comments?post=29917"}],"version-history":[{"count":0,"href":"https:\/\/saarlb.de\/en\/wp-json\/wp\/v2\/posts\/29917\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/saarlb.de\/en\/wp-json\/wp\/v2\/media\/29922"}],"wp:attachment":[{"href":"https:\/\/saarlb.de\/en\/wp-json\/wp\/v2\/media?parent=29917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/saarlb.de\/en\/wp-json\/wp\/v2\/categories?post=29917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/saarlb.de\/en\/wp-json\/wp\/v2\/tags?post=29917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}