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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
BYLAN
Bayerische Landesbank€500
1EMEA
Feb 4, 2026
currency
EUR
size (m)
500.000
maturity
Oct 23, 2030
type
Fixed
tenor
4.500
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Senior Preferred
moody's
Aa2
s&p
-
fitch
AA-
size description
Will Not Grow
re-open/tap
No
ipt
MS+70-75
ipt-pxd
-25.5
guidance
n/a - straight to launch
spread
47
coupon
2.875%
spread set
-
price
99.59800
yield
2.97%
book size (m)
1,470
peak book (m)
1,500
x-covered
2.94
book attrition
-2.00%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,470
peak book (m)
1,500
x-covered
2.94
book attrition
-2.00%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1470; Registration: Reg S Only; Comments: EUR500m 4.5yr fxd cpn 2.875% at 99.598, yld 2.97%. Spread: MS+47. OBL 2.20% 10/10/2030 (DE000BU25059) @ 99.13%, B+57.4bps bps, HR 99%. LEI: VDYMYTQGZZ6DU0912C88;
Deal Comments
Reoffer: long 4yr: MS+47bp / 99.598 / 2.97% Benchmark: long 4yr: OBL 2.20% 10-Oct-30 @ 99.13% / B+57.4bp / HR 99% Final Books €1.47bn (incl. €120m JLM). Peak book over €1.5bn (incl. €120m JLM) Launched: long 4yr: €500m @ MS+47bp - Books over €1.5bn (incl. €120m JLM) Book Update: Books over €1.1bn (ex JLM) IPTs: long 4yr: MS+70/75bp Issuer: Bayerische Landesbank (Ticker: BYLAN) LEI: VDYMYTQGZZ6DU0912C88 Issuer Ratings: Aa2/A+ (Moody's/Fitch) Exp. Issue Ratings: Aa2/AA- (Moody's/Fitch) Format: Reg S, Bearer Status: Senior Preferred Notes Issue Size: €500m Coupon: 2.875%, annual, act/act ICMA, unadjusted following, short first coupon Settlement: 11-Feb-26 (T+5) Maturity: 23-Oct-30 Reoffer: MS +47 bps / 99.598% / yield 2.97% Hedge Ref: OBL 2.20% 10-Oct-30 (DE000BU25059) @ 99.13%, B+57.4bps, HR 99% Denominations: €100k + €100k Listing/Law: Munich / German Documentation: Under Issuer’s EUR 60bn Debt Issuance Programme – Base Prospectus dated 12-May-25, last supplemented 18-Nov-25 (the “DIP Prospectus”) and related documentation Joint Bookrunners: BayernLB(B&D), Commerzbank, Helaba, IMI-Intesa Sanpaolo, ING, Société Générale MIFID II: The manufacturer target market (MIFID II/UK MiFIR product governance) are eligible counterparties and professional clients only (all distribution channels). No PRIIPPs / KID applicable) Fees: The joint bookrunners will be paid a fee in respect of the placement of the securities. ISIN/WKN: DE000BYL0HK8 / BYL0HK Timing: Priced, TOE 14:35 CET, FTT 14:45 CET Advertisement: The prospectus is available at https://www.bayernlb.de/internet/de/blb/resp/meta_7/ueber_uns_1/investor_relations_5/refinanzierung_1/2025_prospekte/dip_2025_05/dip_2025_05.jsp

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