Commentary & Deal Flow

Final Books: In excess of €1.9bn (incl. €225m JLM). Peak book in excess of €1.9bn.

Spread set at: 5yr: MS+12bp - Books in excess of €1.9bn (incl. €200m JLM interest)
Book Update: Books > €1.4bn (inc €200m JLM)
Guidance: 5yr: MS+14a

• Issuer: Investitionsbank Berlin (IBB)
• Guarantor: German Federal State of Berlin
• BBG Ticker: IBB
• Format: Reg S Bearer (0% RW, Senior Unsecured, LCR Level 1)
• Rating: Aa1/AAA (Stable) (Moody's/Fitch)
• Size: €500m
• Coupon: Fixed Rate, Annual, Act/Act ICMA
• Maturity: 20-Aug-31
• Settlement: 20-Aug-26 (T+5)
• ISIN/Series: DE000A4DFVS1
• Benchmark: OBL 2.9 31 #194 (HR 97%)
• Hedge Deadline: 14:00 UKT / 15:00 CET
• Law/List/Denoms: German / Munich / €100k+100k
• Fee: The lead managers will be paid a fee in connection to the transaction
• Bookrunners: BayernLB, CACIB, DB (DM/B&D), DZ, LBBW
• UoP: The proceed will be allocated to Eligible Social Projects as defined in the Social Bond Framework.
• Target Market: The target market for the bonds is professional clients and eligible counterparties, each as defined in MiFID II.
• Schedule: Books open, today's business
• Notes: The Social Bond Framework, the Second Party Opinion by ISS ESG and the Investor Presentation can be consulted on IBB's website:
  • English: https://www.ibb.de/en-ir
  • German: https://www.ibb.de/ir