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Asset Backed Securities
Sovereign, Supranational, and Agency
Regional Government
Parent Companies
Land Nordrhein-Westfalen (aka State of North Rhine-Westphalia)
Land Nordrhein-Westfalen (aka State of North Rhine-Westphalia)
Land Nordrhein-Westfalen (aka State of North Rhine-Westphalia) (NRW)
Deal Details
C/P
Industry
Status
Ticker(s)
Issuer(s)
Size(m)
Tranches
Region
Date
IGC
SSA
PRCD
NRW
Land Nordrhein-Westfalen (aka State of North Rhine-Westphalia)
€1,000
1
EMEA
Nov 3, 2026
Tranche #1
Land Nordrhein-Westfalen (aka State of North Rhine-Westphalia)
BBG026G6BMG5
currency
EUR
size (m)
1,000.000
maturity
Nov 9, 2029
type
Fixed
tenor
3.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
Aa1
s&p
AA
fitch
AAA
size description
Will Not Grow
re-open/tap
No
ipt
-
ipt-pxd
0
guidance
MS+3 area
spread
3
coupon
3.375%
spread set
-
price
99.88500
yield
3.416%
book size (m)
1,600
peak book (m)
1,600
x-covered
1.6
book attrition
0.00%
nic
-
billing & delivering
SOC
active leads
-
joint leads
DEU
,
HLB
,
JPM
,
RBC
,
...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,600
peak book (m)
1,600
x-covered
1.6
book attrition
0.00%
nic
-
billing & delivering
SOC
active leads
-
joint leads
DEU
,
HLB
,
JPM
,
RBC
,
...
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1600; Registration: Reg S Only; Comments: 33.7 bps vs OBL 2.5 10/11/29 @ 98.399 / HR 103%. Listing: Düsseldorf;
Hide Details
Commentary
All Commentary
CreditFlow: End of Day (Europe IG)
11:19 AM ET
1 to 1 of 1
Deal Flow
All Deal Flow
PRICED: State of North Rhine-Westphalia €1bn 3yr Sr Unsec; MS+3bp
07:29 AM ET
ALLOCATIONS OUT: State of North Rhine-Westphalia €1bn 3yr Sr Unsec; MS+3bp
06:46 AM ET
LAUNCHED: State of North Rhine-Westphalia €1bn 3yr Sr Unsec; MS+3bp
04:40 AM ET
NEW ISSUE: State of North Rhine-Westphalia €1bn WNG 3yr Sr Unsec; MS+3a
02:56 AM ET
MANDATE: State of NRW; Reg S €1bn WNG 3yr Offering May Follow
Nov 2, 2026
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