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Commentary & Deal Flow

NEW ISSUE: City of Dortmund €150m (min) 9yr Sr Unsec; MS+53a

IGC European Market: Deal Flow - SSA

Issuer

Term

Maturity

Size

Ranking

Type

Guidance

City of Dortmund

9yr

14-May-35

€150m (min)

Sr Unsec

Fixed

MS+53a


Guidance: 9yr: MS+53a


  • Issuer: City of Dortmund
  • LEI: 529900JF2PLIO3XZM472
  • Ticker: DRTMND
  • Format: Inhaberschuldverschreibung, standalone (senior, unsecured), CRD IV/CRR RW 0% and LCR Level 1
  • Rating: Not rated
  • Issue size: min €150m
  • Maturity: 14-May-35 (9y)
  • Settlement: 13-May-26 (T+7)
  • Coupon: Fixed, Annual, Act/Act ICMA, first long
  • Guidance: MS+53bps area
  • Listing/Denoms: Duesseldorf / €1k+€1k
  • Bookrunners: DekaBank, UniCredit (B&D)
  • Fees: The banks will be paid a fee in relation to this transaction
  • Target market: The manufacturer target market (MIFID II product governance) for the bonds is retail, professional and eligible counterparties, each as defined in MiFID II (all channels for distribution of the bonds are appropriate).
  • Timing: Books are open, today's business