Depfa ACS Bank, the covered bond subsidiary of Dublin based public sector bank, Depfa, has priced its final Euro denominated Irish Asset Covered Security (ACS) benchmark transaction for 2006. The €2 billion, 10 year issue carries a coupon of 3.875p.c. and was over-subscribed, with a final order book volume of €4.21 billion. The reo-ffer price of 99.244p.c. results in a spread of flat versus mid swaps or 21.7 bps over DBR 4p.c. 07/04 /2016.
In the final allocation, 9 p.c. went to the UK and Ireland; 28 p.c. of the issue went to Scandinavia; 21 p.c. to Germany/ Austria/Switzerland; 15 p.c. to France, 7 p.c. to BeNeLux; 12 p.c. into Asia, and finally 8 p.c. to Southern Europe and Middle East. |
