Commentary & Deal Flow

The German Federal State of Hesse (ticker: "HESSEN", country: Germany) rated AA+ (stable) / AAA (stable) by S&P/Scope, has mandated BayernLB, Citi, Danske Bank, Helaba, J.P. Morgan & NORD/LB to lead manage its upcoming 2.5-year (04/2029) €500m (no-grow) Landesschatzanweisung. Launch is expected in the near future, subject to market conditions.

• Fees: The Joint Bookrunners will be paid a fee in connection to the transaction.
• Manufacturer Target Market (MIFID II product governance): Retail, professional and eligible counterparties, each as defined in MiFID II (all channels for distribution of the bonds are appropriate)