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Commentary & Deal Flow

ALLOCATIONS OUT: Landesbank Saar €250m 10yr CB; MS+31bp

IGC European Market: Deal Flow - General

Issuer

Term

Maturity

Size

Ranking

Type

Guidance

Spread Set

ISIN

Landesbank Saar

10yr

27-May-36

€250m

CB

Fixed

MS+37a

MS+31

DE000SLB4386


Final Books €750mn+ (incl. €165mn JLM). Peak book above €760mn

Launched: 10yr: €250m @ MS+31bp - Books above €760mn (incl. €165mn JLM)
Book Update: Orderbooks above €710m (incl. €150m JLM)
Guidance: 10yr: MS+37a


  • Issuer: Landesbank Saar (Ticker: SAARLB)
  • LEI: 52990050SU0S4QQ4Z793
  • Expected Issue Rating: AAA (Fitch)
  • Status: Public Sector Covered Bond (Oeffentlicher Pfandbrief)
  • Format: Reg S, Bearer
  • Size: €250m
  • Settlement: 27-May-26 (T+5)
  • Maturity: 27-May-36 (10 years)
  • Coupon: Fixed, annual, act/act ICMA, unadjusted
  • Denominations: €100,000 + €100,000
  • Listing/Law: Frankfurt (Regulierter Markt) / German Law
  • ISIN/WKN: DE000SLB4386 / SLB438
  • Benchmark: DBR 2.9 15-Feb-36 (DE000BU2Z064) / HR 102%
  • Hedge Deadline: 12:35 CET
  • Joint Bookrunners: DekaBank, DZ BANK, Erste Group (B&D), NORD/LB
  • MIFID II: Manufacturer target market (MIFID II product governance) are eligible counterparties and professional clients only (all appropriate distribution channels).
  • Fees: The joint bookrunners will be paid a fee in respect of the placement of the securities.
  • Books Subject: 11:15 CET
  • Schedule: Pricing to follow