Commentary & Deal Flow

The Free and Hanseatic City of Hamburg, rated AAA (stable) by Fitch, has mandated BayernLB, Commerzbank, Helaba, ING and J.P. Morgan to lead manage its upcoming 6-year EUR Benchmark fixed rate Landesschatzanweisung.

An expected € Benchmark, Reg S, Senior Unsecured 6-year EUR offering will follow, subject to market conditions.

• Issuer: Free and Hanseatic City of Hamburg
• Expected Issue Ratings: AAA (stable) (Fitch)
• Format: Reg S
• Size: € Benchmark
• Tenor: 6 years
• Type: Fixed rate Landesschatzanweisung
• Ranking: Senior Unsecured
• Joint Lead Managers: BayernLB, Commerzbank, Helaba, ING and J.P. Morgan
• Target Market: The manufacturer target market (MiFID II / UK MiFIR) as assessed by the lead managers is retail, eligible counterparties and professionals (all distribution channels)