Commentary & Deal Flow

The German State of Hesse, rated AAA (stable) by Scope and AA+ (stable) by S&P, has mandated DekaBank, Deutsche Bank, ING, J.P. Morgan, Nordea and TD Securities to lead manage its upcoming EUR Benchmark fixed rate Landesschatzanweisung with a maturity of 5 years. The transaction will be launched in the near future subject to market conditions.

• Issuer: The German State of Hesse
• Ratings: AAA (stable)/AA+ (stable) (Scope/S&P)
• Format: Reg S
• Size: € Benchmark
• Maturity: 5 years
• Type: Fixed rate Landesschatzanweisung
• Joint Lead Managers: DekaBank, Deutsche Bank, ING, J.P. Morgan, Nordea and TD Securities
• Notes: Joint Bookrunners will be paid a fee in connection to the transaction