North Rhine-Westphalia issues super bond on anniversary of German Constitution: the advisors

Norton Rose Fulbright has advised a banking consortium consisting of Commerzbank Aktiengesellschaft (Technical Lead), Deutsche Bank Aktiengesellschaft, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main and Landesbank Hessen-Thüringen Girozentrale in connection with the successful issue of a bond by the State of North Rhine-Westphalia.

The banking consortium was advised by a Norton Rose Fulbright team led by Frankfurt partner Christoph Enderstein (pictured). Commerzbank Aktiengesellschaft was advised in-house by Dr. Mauricio Hartwig-Jacob. On behalf of the State of North Rhine-Westphalia, the Ministry of Finance was responsible in connection with the issue of the bond.

The Frankfurt team of Norton Rose Fulbright also included partner Benedikt Gillessen (Capital Markets, Frankfurt, PICTURED), Counsel Dr Michael Born as well as Associates Quynh-Anh Nguyen-Xuan and Miriam Dustmann (all Debt Capital Markets, Frankfurt).

More details on the bond

The bond with an aggregate principal amount of EUR 250 million and a fixed rate of interest of 3.00 per cent was issued on the occasion of the 75th anniversary of the German Constitution. It was listed on the regulated market of the Düsseldorf Stock Exchange and will mature on 24 May 2027.

Enderstein, who is responsible for debt capital markets at Norton Rose Fulbright in Germany, commented: “We have advised on several bonds issued by the State of North Rhine-Westphalia in recent years and are delighted that we have now also been involved in the successful issue of the bond which the State of North Rhine-Westphalia issued on the occasion of the 75th anniversary of the German Constitution.”

Norton Rose Fulbright’s Frankfurt debt capital markets team led by partner Christoph Enderstein advises both investment banks and issuers in connection with national and international capital market transactions in the areas of debt capital markets and structured finance, in particular on bonds, commercial paper, covered bonds (Pfandbriefe), structured bonds, securitized derivatives, hybrid instruments, registered notes, Schuldschein loans and debt issuance programmes as well as related regulatory aspects including sustainable finance issues.