Investors leap on Berlin 20 year
The Federal State of Berlin chopped 2bp off the spread offered for its €500m 2039 bond during execution on Wednesday, as SSA investors remain hungry for long duration debt.
Berlin, rated Aa1/AAA/AAA, started marketing its no-grow trade at mid-swaps plus 4bp area, before launching the deal at 2bp over.
Demand was more than €1bn by the time the spread was set.
BayernLB, Deutsche Bank, HSBC, LBBW and TD Securities were mandated to arrange the transaction.
Long duration euro demand has
...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: subs@globalcapital.com
Or sign up for a trial to gain full access to the entire site for a limited period.
Corporate access
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.
