Hamburg out early with pricing after announcement error

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By Burhan Khadbai
09 Sep 2020

The City of Hamburg began taking indications of interest with initial price thoughts for a 30 year bond on Wednesday afternoon ahead of schedule after one of the leads accidentally sent out a message announcing the official opening of order books.

Initially, nothing seemed out of the ordinary. At 1pm UK time, a mandate announcement was sent for a €500m no-grow 30 year bond by Hamburg, to be led by Barclays, Citi, DZ Bank, LBBW and NordLB.

The expectation from a mandate announcement like ...

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