DVB Bank SE places second €500m senior unsecured benchmark issue in 2012

DVB tapped the financial market with a five-year €500m transaction. This was the Bank’s second euro-denominated senior unsecured benchmark issue in 2012, following its inaugural three-year €500m benchmark transaction in May. Wolfgang F. Driese, CEO and Chairman of the DVB’s Board of Managing Directors, commented: “This very successful transaction highlights DVB’s strong recognition in the capital markets it further broadens and diversifies our investor base. Our objective is to build a euro-denominated senior unsecured benchmark curve.” In conjunction with the bank syndicate DVB decided to benefit from the overall favourable market environment and to issue a no grow benchmark transaction. Books were opened on Thursday, 23 August 2012 at 09:00 a.m. CET. There was strong demand from various investors (175 accounts in total) leading to an oversubscribed, highly granular order book which was closed at 10:15 a.m. CET with a total volume of above €1.2bn. The final spread was fixed at mid-swaps +150 basis points and pays an annual fixed coupon of 2.50%.