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Asset Backed Securities
Sovereign, Supranational, and Agency
Regional Government
Parent Companies
Land Niedersachsen (aka State of Lower Saxony)
Land Niedersachsen (aka State of Lower Saxony)
Land Niedersachsen (aka State of Lower Saxony) (NIESA)
Deal Details
C/P
Industry
Status
Ticker(s)
Issuer(s)
Size(m)
Tranches
Region
Date
IGC
SSA
PRCD
NIESA
Land Niedersachsen (aka State of Lower Saxony)
€3,000
2
EMEA
Jan 5, 2026
Tranche #1
Land Niedersachsen (aka State of Lower Saxony)
BBG01ZDZLTT1
currency
EUR
size (m)
1,500.000
maturity
Apr 15, 2031
type
Fixed
tenor
5.250
call
-
registration
-
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
-
fitch
AAA
re-open/tap
No
ipt
-
ipt-pxd
-3
guidance
MS+16 area
spread
13
coupon
2.625%
spread set
-
price
99.48100
yield
2.73%
book size (m)
7,400
peak book (m)
-
x-covered
4.93
book attrition
-
nic
-
billing & delivering
CMZ
active leads
-
joint leads
CMZ
,
DEK
,
JPM
,
LBW
,
...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
7,400
peak book (m)
-
x-covered
4.93
book attrition
-
nic
-
billing & delivering
CMZ
active leads
-
joint leads
CMZ
,
DEK
,
JPM
,
LBW
,
...
passive leads
-
co-managers
-
coordinating managers
-
Tranche #2
Land Niedersachsen (aka State of Lower Saxony)
BBG01ZDZLTV8
currency
EUR
size (m)
1,500.000
maturity
Jan 10, 2036
type
Fixed
tenor
10.000
call
-
registration
-
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
-
fitch
AAA
re-open/tap
No
ipt
-
ipt-pxd
-3
guidance
MS+29 area
spread
26
coupon
3.125%
spread set
-
price
99.37600
yield
3.199%
book size (m)
10,300
peak book (m)
-
x-covered
6.87
book attrition
-
nic
-
billing & delivering
CMZ
active leads
-
joint leads
CMZ
,
DEK
,
JPM
,
LBW
,
...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
10,300
peak book (m)
-
x-covered
6.87
book attrition
-
nic
-
billing & delivering
CMZ
active leads
-
joint leads
CMZ
,
DEK
,
JPM
,
LBW
,
...
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 7400; First Pay: 2027-04-15; Comments: EUR1.5bn 5.25yr fxd cpn 2.625% at 99.481, yld 2.73%. Spread: MS+13; Book size: 10300; First Pay: 2027-01-10; Comments: EUR1.5bn 10yr fxd cpn 3.125% at 99.376, yld 3.199%. Spread: MS+26;
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