Commentary & Deal Flow

The State of Baden-Wuerttemberg, (ticker: "BADWUR") rated Aaa/AA+/AAA (Moody's/S&P/Scope), has mandated Credit Agricole CIB, DZ BANK, J.P. Morgan, LBBW, Nordea and Rabobank to lead manage an upcoming benchmark transaction.

An expected €1bn (no-grow), LSA format, Senior Unsecured 5yr € offering, due 12-May-31, will follow, subject to market conditions.

The target market for the bonds are retail, professional and eligible counterparties, each as defined in MiFID II/UK MiFIR product governance (all channels for distribution of the Bonds are appropriate).