NordLB celebrates 250 year anniversary with record low coupon

NordLB has issued a four year public sector backed Pfandbrief on a very well oversubscribed book at the lowest ever coupon and at an extraordinarily tight spread. The deal, which comes in the bank’s 250th anniversary, is likely highlight relative value to the planned issuance of its inaugural benchmark Lettre de Gage, which will also be backed by public sector assets.