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Commentary & Deal Flow

PRICED: Investitionsbank Berlin €500m 8yr Sr Unsec; MS+22bp

IGC European Market: Deal Flow - SSA

Issuer

Term

Coupon

Maturity

Size

Ranking

Type

Price

Yield

Spread

Investitionsbank Berlin

8yr

3.125%

09-Jun-34

€500m

Sr Unsec

Fixed

99.541

3.191%

MS+22


Reoffer: 8yr: MS+22bp / 99.541 / 3.191%
Benchmark: 8yr: DBR 2.2 15-Feb-34 @ B+29.33bp

Launched: 8yr: €500m @ MS+22bp

  • Issuer: Investitionsbank Berlin (IBB)
  • Guarantor: German Federal State of Berlin
  • BBG Ticker: IBB
  • Format: Bearer (0% RW, senior unsecured, LCR Level 1)
  • Rating: Aa1/AAA (Moody's/Fitch)
  • Size: €500m
  • Coupon: 3.125%
  • Maturity: 09-Jun-34
  • Settlement: 10-Jun-26 (T+5)
  • ISIN / Series: DE000A4DFVR3 / 248
  • Law/List/Denoms: German / Munich Regulated market / €100,000+€100,000
  • Lead Managers: BayernLB, Crédit Agricole CIB, Norddeutsche Landesbank
  • Fee: The three Lead Managers will receive a discount on the reoffer price
  • Target market: The target market for the bonds is professional clients and eligible counterparties, each as defined in MiFID II (only non-advised services)