Commentary & Deal Flow

The Federal State of Saarland, rated AAA by Fitch, has mandated BayernLB, Deutsche Bank, LBBW, NORD/LB and UniCredit for its upcoming 7yr €500m no-grow fixed rate Landesschatzanweisung. The deal will be launched in the near future, subject to market conditions.

• Manufacturer Target Market (MiFID II product governance): retail, professional and eligible counterparties (all distribution channels).