NordLB Plans EUR500 Mln 2020 Lower-Tier 2 Bond

22nd Jun 2010 09:47

LONDON (Dow Jones)--Germany's Norddeutsche Landesbank Girozentrale, or NordLB, is planning a EUR500 million, 2020, lower-tier 2 bond, one of the banks 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. Nord LB is rated Aa3 by Moody's Investors Service Inc. -By Ainsley Thomson, Dow Jones Newswires; 44 20 7842 9318; [email protected] (END) Dow Jones Newswires June 22, 2010 04:47 ET (08:47 GMT)