Brandenburg prices through curve with new 20 year

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By Burhan Khadbai
04 Aug 2020

The State of Brandenburg got over the line with a fully subscribed order book and a yield inside its curve on Tuesday, successfully avoiding the fate that its compatriot Berlin met at the tenor last week.

Following the mandate announcement on Monday, leads Barclays, DekaBank, DZ BankNatixis and TD Securities priced a €500m August 2040 bond for Brandenburg at a spread of mid-swaps plus 11bp and a yield of 0.084% on Tuesday.

The books were last heard at over €530m, including €30m of lead ...

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