Published on 1/24/2020 in the Prospect News Investment Grade Daily.
New Issue: L-Bank sells $475 million 20-month floaters at Libor plus 12 bps
By Devika Patel
Knoxville, Tenn., Jan. 24 – Landeskreditbank Baden-Wurttemberg-Forderbank (L-Bank) priced $475 million of floating-rate notes due Sept. 27, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest accrues at a rate equal to Libor plus 12 basis points.
J.P. Morgan Securities plc, Barclays, BMO Capital Markets and Deutsche Bank are the bookrunners.
The financial services provider is based in Karlsruhe, Germany.
| Issuer: | Landeskreditbank Baden-Wurttemberg-Forderbank
|
| Issue: | Floating-rate notes
|
| Amount: | $475 million
|
| Bookrunners: | J.P. Morgan Securities plc, Barclays, BMO Capital Markets and Deutsche Bank
|
| Maturity: | Sept. 27, 2021
|
| Coupon: | Libor plus 12 bps
|
| Trade date: | Jan. 24
|
| Distribution: | Over the counter, TBC
|
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