Eurohypo, a subsidiary of Commerzbank, has issued its third jumbo Pfandbrief of the year. The Eschborn-based bank - Europe's largest Pfandbrief issuer - placed a two-year jumbo mortgage Pfandbrief with a benchmark volume of EUR 1 bn within a matter of hours.

There was a great deal of interest in the new Eurohypo Pfandbrief with 77 investors subscribing, resulting in an oversubscription of around 20%. The transaction was overseen by a consortium of banks comprising Commerzbank, Barclays, DZ Bank, NORD/LB and UniCredit.

All three rating agencies (Moody's, Standard & Poor's, Fitch) awarded the jumbo their highest ratings (Aaa, AAA, AAA*). The Pfandbrief, issued in euro, has a maturity date of 1 October 2013 and an interest warrant of 1.875%.

It was above all national and international banks, funds and other institutional investors that showed interest in the jumbo mortgage Pfandbrief.