Allen & Overy LLP advised Dexia Kommunalbank Deutschland AG (DKD) in connection with a Public Pfandbrief with an aggregate principal amount of EUR 500 million.

The 0.05% fixed-rate Public Pfandbrief due 2021 is the first benchmark issue by DKD in this year. The Public Pfandbrief is admitted to trading on the regulated market of the Berlin Stock Exchange.

The syndicate of financing banks included Bayerische Landesbank, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, DZ BANK AG and UniCredit Bank AG.

Assistance in the benchmark issue was also provided by in-house counsel Cornelia Rickels-Moser, Thorsten Krause and Stephan Schlegel.

The Allen & Overy team comprised partner Christoph Enderstein, associate Sandra Ziener and paralegal Sven Steinbach (all International Capital Markets, all Frankfurt).