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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
SSA
PRCD
WIBANK
Wirtschafts Und Infrastrukturbank Hessen€500
1EMEA
Jul 2, 2026
currency
EUR
size (m)
500.000
maturity
Jul 9, 2031
type
Fixed
tenor
5.000
call
-
registration
-
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
AA+
fitch
-
size description
Will Not Grow
re-open/tap
No
ipt
-
ipt-pxd
-1
guidance
MS+16 area
spread
15
coupon
2.875%
spread set
-
price
99.75700
yield
2.928%
book size (m)
920
peak book (m)
920
x-covered
1.84
book attrition
0.00%
nic
0
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
920
peak book (m)
920
x-covered
1.84
book attrition
0.00%
nic
0
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 920; Comments: OBL 2.5% 04/2031, +28.9 bps @ spot 99.365% (HR 104%);
Guarantor(s)
Federal State of Hessen
Relative Value

5yr (July 2031) @ MS+16 area

Implied Spread for fresh 5yr @ MS+15

Priced at MS+15
NIC of 0

COMPS

Ticker

Coupon

Maturity

M/S&P/F

Size

Issued

I-Sprd

HESSEN

2.88%

10/14/30

-/AA+/-

1,000m

Apr-26

8

KFW

2.88%

06/30/31

Aaa/AAA/-

5,000m

Apr-26

3

HAMBRG

3.00%

05/07/1931

-/-/AAA

500m

May-26

9

IBB

2.75%

03/24/31

Aa1/-/AAA

1,000m

Mar-26

13

BAYLAN

2.63%

06/12/1931

Aaa/-/-

500m

Mar-26

12