Reoffer: SONIA MS+37bp / 99.63 / 4.346%
Benchmark: UKT 0 3/8 22-Oct-30 @ 84.623 / B+22.4bp / HR 110%
Launched: GBP 650m MS+37bp# - Books closed in excess of £750m (Excluding JLM interest)
Guidance: 5yr: SONIA MS+37bp
Issuer: Landeskreditbank Baden Wuerttemberg – Foerderbank (L-Bank)
Guarantor: Explicitly and unconditionally guaranteed by the German Federal State of Baden-Wuerttemberg
Rating: Aaa/AA+/AAA (Moody's/S&P/Fitch, Outlook stable)
ESG Rating: A/Low Risk/Prime (MSCI/Sustainalytics/ISS ESG)
Format: Reg S, Bearer, Sr Unsec
Size: £650 million
Maturity: 22-Oct-30
Settlement: 23-Mar-26 (T+5)
Coupon: 4.25%, Fixed, Annual, Act/Act, short first coupon
Reoffer: 99.630% / 4.346% (Ann.) / 4.300% (S/A) SONIA MS (A, A/365) +37bps
Gilt Ref: UKT 0 3/8 22-Oct-30 @ 84.623 (MID) / 84.603 (BID) / +22.4bps / HR 110%
Denoms: £1k + £1k
Listing: Luxembourg
Law: German
Docs: Issuer's Debt Issuance Programme
Bookrunners: Barc (B&D/DM) / BMO / NatWest
ISIN: XS3324593097
Target Market: The EU MiFID manufacturer target markets are eligible counterparties and professional clients (all distribution channels)
Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The prospectus is available at: https://www.bourse.lu/issuer/LKrBkBadenWurtt/43647
Timing: Priced. TOE 14:10 LDN. FTT immediately