Commentary & Deal Flow

The German Federal State of Rhineland Palatinate (Land Rheinland-Pfalz “RHIPAL”), rated AAA by Fitch, has mandated DekaBank and LBBW to lead manage its upcoming 2-year, €500m (WNG) fixed rate Landesschatzanweisung.

Launch is expected in the near future, subject to market conditions. A certain amount of the issue will be retained by the issuer.

• Target Market (MiFID II): The manufacturer target market (MiFID II product governance) as assessed by the lead managers is retail, eligible counterparties and professionals (all distribution channels).