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by Oleksandr Vynychuk

Jul 06, 2026 6:48 AM ET

PRICED: Land Berlin €500m Short 7yr Sr Unsec; MS+17bp

IGC European Market: Deal Flow - SSA

Issuer	Term	Coupon	Maturity	Size	Ranking	Type	Price	Yield	Guidance	Spread	GDNC-PXD
Land Berlin	Short 7yr	3.000%	22-Apr-33	€500m	Sr Unsec	Fixed	99.914	3.013%	MS+17a	MS+17	0

Reoffer: Short 7yr: MS+17bp / 99.914 / 3.013%
Benchmark: Short 7yr: DBR 2.3 15-Feb-33 @ 97.331% / B+26.7bp / HR 103%

Launched: 7yr: €500m @ MS+17bp
Guidance: MS+17a

Issuer: Federal State of Berlin (Land Berlin)
LEI: 529900Y6Q7R44JF7XX56
Ticker: BERGER
Ratings: Aa1/AAA/AAA (Moody's/Fitch/Scope, all stable)
Format: Landesschatzanweisung (0% rw, senior unsecured)
Tap Size: €500m
New Outstanding: €1.5bn
Settlement Date: 13-Jul-26 (T+5)
Maturity Date: 22-Apr-33
ISIN: DE000A4DE9P1
Coupon: 3.000%, Fixed, Annual
Day Count Basis: ACT/ACT ICMA
Governing Law: German
Listing: Berlin
Denominations: €1k+1k
Target Market: Professional, retail and eligible counterparties each as defined in MiFID II /UK MiFIR (all channels for distribution of the bonds are appropriate).
Fees: The banks will be paid a fee in relation to this transaction
Lead Managers: BayernLB (B&D), Crédit Agricole CIB, Danske Bank, DZ BANK and Rabobank
Notes: Tap of the existing 3.000% 22-Apr-33 bond.