Commentary & Deal Flow

The German State of Saxony-Anhalt, rated Aa1/AAA/AAA (Moody's/Fitch/Scope), has mandated DZ BANK, Goldman Sachs Bank Europe SE, Helaba, and J.P. Morgan to lead manage its upcoming €500m (no-grow) fixed rate Landesschatzanweisung with a maturity of 2 years.

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, Professional and Eligible Counterparties (all distribution channels).