Commentary & Deal Flow

The German Federal State of Berlin (Land Berlin) (ticker: "BERGER", country: DE), rated Aa1/AAA/AAA (Moody's/Fitch/Scope - all stable), has mandated BNP Paribas, BofA Securities, Deutsche Bank, DZ Bank, LBBW, and Raiffeisen Bank International to lead manage its upcoming EUR Benchmark Landesschatzanweisung with a maturity of 10 years.

An expected benchmark € 10yr offering will follow in the near future, subject to market conditions.

• Target Market: Professional, retail and eligible counterparties each as defined in MiFID II (all channels for distribution of the bonds are appropriate)
• Fees: The Joint Bookrunners will be paid a fee in connection to the transaction