Global law firm Dentons, with a team led by Oliver Dreher, has advised Landesbank Baden-Württemberg (LBBW), Erste Group Bank AG and J.P. Morgan SE as joint lead managers on the placement of Sparkasse Pforzheim Calw's debut benchmark Pfandbrief (mortgage bond) with a total volume of €500 million.
According to press reports, the placement with national and international investors was more than three times oversubscribed. Sparkasse Pforzheim Calw is one of the largest savings banks (Sparkassen) in Germany and the second largest issuer of Pfandbriefe among German savings banks in terms of outstanding issuance volume.
The Dentons team comprised partner Oliver Dreher, senior associate Philippa Münnich-Winter and associate Nadja Reiß (all Capital Markets, Frankfurt).
Oliver Dreher and his team have assisted LBBW in numerous capital market projects in the past and regularly advise leading issuers, banks and investors on large-volume and international capital market transactions.