Company website: https://www.lbbw.de/homepage/homepage_6kyjj4koh_e.html
With deep roots in Baden-Württemberg, dating back to the year 1818, LBBW is also present in a number of economic and financial hubs worldwide. Our global network of international offices includes four branches in London, New York, Seoul, and Singapore, 14 representative offices worldwide, and our financing company in Mexico City. Each of the 19 LBBW locations specialises in the services that are particularly in demand and demanded on site.
On November 24, 2020, LBBW acted as Joint Lead Manager for the €8.5 billion social bond issued by the European Union on Tuesday under the SURE programme. As a long-standing partner of the EU and the first Landesbank, it accompanies for the first time as an issue bank a bond that is so strategically important. Other consortium leaders included CITI, HSBC, J.P. Morgan, and Société Générale.
"The designation of LBBW as an issue bank for this transaction is a major demonstration of the EU's confidence and a testament to our high level of expertise as well as the large national and international placement power in the sustainable investments segment," explains LBBW Capital Markets Board Member Dr. Christian Ricken. "At the same time, this is also the largest volume-related bond transaction that LBBW has accompanied as a consortium leader." Through its significant contribution to investor diversification, LBBW has enabled the EU to have a very competitive pricing system, from which the aid programmes will directly benefit.
The 15-year bond is the third EU transaction under its SURE Social Bond programme, which is expected to be worth up to €100 billion. It is part of the EU's efforts to support the economic recovery following the Coronavirus pandemic and its consequences and is primarily aimed at financing short work programmes in the EU Member States. Ten- and 20-year bonds were issued in October and a total of EUR 31 billion in five- and 30-year bonds in November.
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LinkedIn URL: www.linkedin.com/company/lbbw
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