Land NRW taps ‘super-hot’ demand for 100 year bond

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The State of North-Rhine Westphalia received a rapturous reception from investors for the syndicated reopening of its century bond on Tuesday, allowing it to print over five times the initial target size.

By Burhan Khadbai
19 Mar 2019

Leads Barclays, JP Morgan and LBBW priced a €1.26bn increase of its March 2119 Reg S bond with a reoffer price and yield of 99.754 and 2.156% respectively.

Books opened on Tuesday morning with guidance of 60 year mid-swaps plus 100bp area for a minimum ...

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