Bremen sells less than half of €500m bond

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By Burhan Khadbai
01 Oct 2020

The City of Bremen was heavily undersubscribed as it came to the market with an eight year bond on Thursday, in what is the region’s second consecutive public deal that has failed to reach full subscription.

Bremen raised €500m with an October 2028 bond at mid-swaps minus 3bp area, in line with guidance, via Deutsche Bank, HSBC, LBBW, Raiffeisen Bank International and UniCredit. There were no book updates.

A syndicate banker at one of the leads did not disclose ...

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