Land NRW scores with new 30 year ahead of ECB meeting

By Burhan Khadbai
21 Jan 2021

The State of North Rhine-Westphalia found plenty of demand as it came to the market with a new 30 year benchmark on Thursday, ahead of the European Central Bank’s first monetary policy meeting of the year.

Leads BayernLB, Citi, Commerzbank, TD Securities and UniCredit priced a new €1.5bn January 2051 bond for Land NRW with a spread of mid-swaps plus 15bp, 1bp inside of guidance, with a final book of over €2.95bn (including €75m of lead manager interest).

The deal ...

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