North-Rhine Westphalia
-
◆ Rentenbank last sold a 10 year in 2023 ◆ IBB's book gains momentum after spread set ◆ NRW.Bank returns to sterling after 2.5 years -
Andreas Becker, head of treasury and pension fund for Land NRW, discusses borrowing strategy
-
◆ Reverse interest helped by secondary demand ◆ Concession paid ◆ 15 year leg more challenging
-
◆ Issuer's first benchmark after after active start of year in PPs ◆ Deal attracts big book despite large tightening ◆ Only KfW priced with lower spread to USTs this year
-
Finding right pricing ‘not easy’ but issuer navigates challenges to score record book and put important pricing point on euro curve
-
◆ Front-end and belly of dollar curve working ◆ Big order books ◆ Landed close to other recent trades
-
◆ NRW tests 30 year demand ◆ both real and fast money feast duration ◆ ADB adds euro to funding mix in active 2026 start
-
Green and social, dollar and euro all on the menu
-
State could fund 50% more next year and is ready to act early in January
-
◆ German state's last benchmark this year ◆ Tightest Länder seven year in 2025 ◆ International demand dominates book
-
◆ Land NRW and British Columbia eye euros ◆ Rentenbank going for dollars ◆ Too soon to pre-fund?
-
Issuer ‘confident’ to make use of stronger market and has now raised €13bn this year
