NordLB Guidance On EUR500M 2020 LT2 Bond At Swaps +3.10 Area

22nd Jun 2010 12:55

LONDON (Dow Jones)--Germany's Norddeutsche Landesbank Girozentrale, or NordLB, has set guidance on its planned EUR500 million, 2020, lower-tier 2 bond, around 310 basis points over mid-swaps, a bank working on the deal said Tuesday. Credit Agricole SA, Credit Suisse Group, Nord LB, Royal Bank of Scotland Group PLC and UniCredit SpA are joint lead managers on the deal. Lower-tier 2 debt is subordinated debt that ranks above tier 1 debt and has fewer equity-like features, while still paying a higher return than senior debt. -by Mark Brown, Dow Jones Newswires; + 44 (0)207 842 9485, [email protected] (Ainsley Thomson in London contributed to this item.) (END) Dow Jones Newswires June 22, 2010 07:55 ET (11:55 GMT)