Land NRW hits first century bond

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By Frank Jackman
15 Mar 2019

The State of North-Rhine Westphalia sold its first century bond on Thursday via the private placement market, and is open to the possibility of bringing a syndicated deal in the tenor.

LBBWsold the €170m 2.15% March 2119 note for the issuer.

“In this market environment it's all about duration,” said a funding official at the issuer. “With yields so low, we were eager to increase the average life of our debt outstanding.”

“These are uncharted waters, so we would rather start ...

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