LBBW taps eight year tenor for bail-in debt

By Frank Jackman
27 Apr 2021

LBBW enjoyed the euro limelight on Tuesday morning as it sold the week’s first senior deal from a European borrower, pricing a €500m eight year deal that peaked at more than three times covered.

The German lender (A2/–/A-) was looking to sell a May 2029 bond in non-preferred format.

“Eight years is a very good maturity, which allows the borrower to attract a lot of investors,” said a banker at one of the leads.

LBBW picked its own investment bank,

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