January 20, 2025 10:07 GMT
FINANCIALS: Nord LB - New Issue - €500m WNG 3Y Sr Non-Pref - FV
FINANCIALS
Nord LB - New Issue - €500m WNG 3Y Sr Non-Pref
- IPT: MS+125
- FV : MS+97. Extending the DB curve, the NDB 3.625% 2029 trades 9bps wide of the DB curve. Subtract 2bps for curve shape at 3Y, putting the new issue 7bps wide of the 3Y DB 1.75% 2028.
- Exp. Ratings: A1/A+ (Moody's/Fitch)
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