Commentary & Deal Flow

Launched: 7yr: €200m @ MS+50bp - Books closed in excess of €295m (excl. JLM)
Spread set at: 7yr: MS+50bp - Books above €370mn (excl. JLM)
Book Update: Books above €360mn (excl. JLM)
Guidance: 7yr: MS+53a

• Issuer: City of Dortmund
• LEI: 529900JF2PLIO3XZM472
• Ticker: DRTMND
• Format: Inhaberschuldverschreibung, standalone (senior, unsecured) CRD IV/CRR RW 0% and LCR Level 1
• Rating: Not rated
• Size: €200m
• Maturity: 21-Oct-33 (7y)
• Settlement: 21-Oct-26 (T+7)
• Coupon: Fixed, Annual, Act/Act ICMA
• Listing/Denoms: Duesseldorf / €1k + €1k
• Bookrunners: DekaBank, UniCredit (B&D)
• ISIN: DE000A5GS545
• Fees: The banks will be paid a fee in relation to this transaction
• Target Market: The manufacturer target market (MIFID II product governance) for the bonds is retail, professional and eligible counterparties, each as defined in MiFID II (all channels for distribution of the bonds are appropriate).
• Schedule: Books to close at 12:00 CET
• Timing: Allocations & pricing later today