On 14^th June 2010, Landesbank Baden-Württemberg (LBBW) issued a EUR 1 billion public sector Jumbo PfandbriefGerman Pfandbriefen, whose origins date from 1769 and whose current regime is set by a law revised in 1998, are bonds backed by very high quality assets, primarily mortgage loans including a mortgage clause on the buildings financed as well as government loans to local government bodies (communal loans) and other public entities..

 

Crédit Agricole CIB, BNP Paribas, UBS and LBBW were mandated joint bookrunners for this 6-year covered bond transaction.

 

The rarity of the issuer and the strong name recognition were important factors for the successful placement of the deal. The high quality of the order book was reflected in the final allocations with more than 75 investors participating.

 

June has proven to be a very active month in the EUR covered bond market with a large amount of supply.

 

LBBW is a universal bank and an international commercial bank. With a balance sheet total of approx. EUR 412 billion (as of December 31, 2009) at Group level and around 13,000 employees in the Group, LBBW is the largest bank in the southwest of Germany. LBBW ranks among the five largest German banks and among the 50 largest credit institutions worldwide.