Commentary & Deal Flow

The German Free State of Thuringia, rated AAA (stable) by Fitch, has mandated BayernLB, DekaBank, Deutsche Bank, J.P. Morgan and NORD/LB to lead manage its upcoming 10-year EUR Benchmark fixed rate Landesschatzanweisung.

Launch and pricing is expected in the near future, subject to market conditions.

• Target Market (MiFID II): The manufacturer target market as assessed by the lead managers is retail, eligible counterparties and professionals (all distribution channels).