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