Chicago, Feb. 1 – Landesbank Baden-Wuerttemberg priced €1.5 billion of green senior non-preferred floating-rate notes due 2026 (A2//A-/DBRS: A), according to a market source.
The notes will have a Euribor plus 70 basis points coupon. The notes priced without a discount.
Initial talk was in the Euribor plus 100 bps area.
Landesbank Baden-Wuerttemberg handled billing and delivery. Other joint bookrunners included BofA Securities, Deutsche Bank, Erste Group, ING and Societe Generale.
The order book was over €2.5 billion.
Proceeds will be used for eligible green assets under the bank’s green bond framework.
The notes will be listed in Luxembourg.
Landesbank is a universal bank and a commercial bank with a regional focus based in Stuttgart, Germany.
| Issuer: | Landesbank Baden-Wuerttemberg
|
| Amount: | €1.5 billion
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| Issue: | Green senior non-preferred floating-rate notes
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| Maturity: | Nov. 9, 2026
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| Bookrunners: | Landesbank Baden-Wuerttemberg (billing and delivery), BofA Securities, Deutsche Bank, Erste Group, ING and Societe Generale
|
| Green assessor: | ISS-ESG
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| Coupon: | Euribor plus 70 bps
|
| Price: | Par
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| Trade date: | Feb. 1
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| Settlement date: | Feb. 9
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| Ratings: | Moody’s: A2
|
| Fitch: A-
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| DBRS: A
|
| Price talk: | Euribor plus 100 bps area
|
| ISIN: | DE000LB39BG3
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