Commentary & Deal Flow

The German State of Hesse, rated AA+/AAA (S&P/Scope), has mandated BayernLB, DekaBank, DZ BANK, Helaba and NORD/LB to lead manage its upcoming €500m (WNG) floating rate note with a maturity of 7 years (10-Jun-33).

The transaction will be launched in the future, subject to market conditions.

• Target Market (MiFID II): Manufacturer target market is retail, eligible counterparties and professional clients (all distribution channels).