Commentary & Deal Flow

Guidance: 6yr: MS+12a

• Issuer: The Free and Hanseatic City of Hamburg
• Ticker: HAMBRG Govt
• Format: Landesschatzanweisung (0% rw, senior unsecured)
• Issuer Rating: AAA (Fitch, stable)
• Size: € Benchmark
• Coupon: fixed, annual, act/act ICMA, unadjusted following
• Settlement: 16-Sep-26 (T+5)
• Maturity: 16-Sep-32 (6 years)
• Joint Leads: BayernLB, Commerzbank, Helaba (B&D), ING and J.P. Morgan
• Fees: The Joint Bookrunners will be paid a fee in connection to the transaction
• Target Market: Professional, retail and eligible counterparties each as defined in MiFID II and UK MiFIR (all distribution channels)
• Denoms/Listing: 1k/Hamburg
• ISIN/WKN: DE000A3MQTU1 / A3MQTU
• Timing: Today's business