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Commentary & Deal Flow

NEW ISSUE: Federal Republic of Germany € bmk 30yr Sr Unsec; Spread set at DBR+0.4bp

IGC European Market: Deal Flow - SSA

Issuer

Term

Maturity

Size

Ranking

Type

ISIN

Spread Set

Federal Republic of Germany

30yr

25-Aug-56

bmk

Sr Unsec

Fixed

DE000BU2D012

DBR+0.4


Spread set at: 30yr: DBR+0.4bp


  • Issuer: Federal Republic of Germany
  • Ratings: Aaa/AAA/AAA (Moody's/S&P/Fitch) (stab/stab/stab)
  • Format: Reg S only, Bearer in dematerialised format (German Law), CAC
  • Selling Restrictions: United States (or to US persons within the meaning of the US Securities Act 1933 – Reg S category 1 only, TEFRA not applicable), Australia or any other jurisdiction in which such offer or solicitation would be unlawful
  • Maturity: 25-Aug-56
  • Tap Size: € Benchmark
  • Retention: The issuer may retain an amount of bonds in a size to be specified
  • Current O/S: €29.5bn
  • Coupon: 2.9% Fixed, Ann. Act/Act
  • Final Spread Set: +0.4bp the number vs. DBR 2.5% 15-Aug-54 (DE000BU2D004) - MID
  • Settlement: 25-Aug-26 (T+5)
  • Listing: All domestic Exchanges
  • Law: German Law
  • Denoms: €0.01
  • Target Market: (MIFID II/UK MIFIR) Eligible, professional and retail counterparties (all distribution channels)
  • Docs: Stand alone issue. Only terms and conditions document. No prospectus or any other formal offering document will be produced to allow for the offering of the Bonds in any jurisdiction. The terms and conditions document of the Bonds are published in the Federal Gazette (Bundesanzeiger) and will be made available on http://www.deutsche-finanzagentur.de
  • Fees: The Bookrunners will be paid a fee in connection to the transaction
  • ISIN: DE000BU2D012
  • Bookrunners: Barclays / BNP / Citi (B&D/DM) / DB / JPM / NatWest
  • Timing: Books open / Today's business