Brandenburg undersubscribed for 25 year deal as Land NRW hits screens

By Burhan Khadbai
20 Jan 2021

The State of Brandenburg failed to reach full subscription for a new 25 year trade on Wednesday as it priced at an exceptionally tight level to its secondary curve.

Leads BNP Paribas, DekaBank, Helaba, HSBC, NatWest Markets and NordLB priced a €500m January 2046 bond for Brandenburg at mid-swaps plus 7bp, in line with guidance. There were no book updates.

A syndicate banker at one of the leads declined to comment on the ...

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