NordLB prepares international bond benchmark

NordLB, Germany's tenth largest bank, hopes to capitalise on demand for liquid non-government bonds by issuing a €1bn ($0.9bn) bond issue targeting international investors.

NordLB, or Norddeutsche Landesbank Girozentrale, is rated Aa1 by Moody's Investors Service and AAA by Fitch. It is a regular issuer in the bond markets but has not launched an issue with what it calls &quotbenchmark characteristics&quot for some time, and has never been so explicit about selling debt outside its own market.

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