Commentary & Deal Flow

Federal State of Brandenburg, (ticker: "BRABUR", country: Germany) rated Aaa by Moody's, has mandated DZ BANK, HSBC, J.P. Morgan, LBBW and Raiffeisen Bank International to arrange a series of fixed income investor calls.

An expected EUR Benchmark, Reg S, Landesschatzanweisung 4yr EUR offering will follow, subject to market conditions. The Joint Bookrunners will be paid a fee in connection to the transaction.

• Issuer: Federal State of Brandenburg
• Ticker: BRABUR
• Issuer Ratings: Aaa (Moody's)
• Expected Issue Ratings: Aaa (Moody's)
• Format: Reg S Landesschatzanweisung
• Size: € Benchmark
• Ranking: Senior Unsecured
• Type: Fixed
• Maturity: 4 years
• Joint Bookrunners: DZ BANK, HSBC, J.P. Morgan, LBBW, Raiffeisen Bank International
• Target Market: Retail, eligible counterparties and professionals (all distribution channels)
• Timing: Launch in the near future, subject to market conditions