Inquired: Second NORD/LB Benchmark

The transaction in mid-February received 100 customer orders and was oversubscribed by a total of four times with a book of 2 billion euros. In less than one hour, the magic order volume of 1 billion euros was already exceeded. In terms of maturity, as expected, banks were the strongest customer group with 45%. Central banks, predominantly from the “non-Euro system”, were the second largest investor group with 27%. In terms of regions, German accounts lead with 56%, ahead of Asian investors with 14%.

NORD/LB has returned to its growth path after recapitalization and consolidation in selected strategic business areas. Thus, the issuer NORD/LB will again regularly come to the market with public transactions in addition to private placements from its debt issuance program. Looking at 2023 and 2024, this will mean four to five benchmark transactions each.

The issue of sustainability is firmly anchored in the bank’s strategy, and not just in the area of renewable energies, where we have already been a major financier for years, a position that will become even stronger in view of the German energy shift to renewables. Having successfully brought to market two Green Pfandbriefe in 2022, sustainable issuance will increasingly replace conventional formats in the future, both in the covered and unsecured area.