LBBW struggles for demand with second FIG social bond of the week

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By David Freitas, Tyler Davies
19 Sep 2019

LBBW joined CaixaBank is raising social bond funding in the euro market this week, but the German lender struggled to build up demand and tighten pricing for its €500m deal.

LBBW hired ABN Amro, Erste Group, ING, LBBW, Société Générale and UniCredit as the bookrunners for its €500m eight year social bond, which arrived in non-preferred senior format on Thursday.

The lead managers began with initial price thoughts in the 72bp area ...

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