08/10/2003
WestLB Covered Bond Bank Plc: € 2 Billion Benchmark Bond Priced
The € 2 billion inuagural benchmark bond of WestLB Covered Bond Bank plc, Dublin, has now been priced. The five-year issue (ISIN DE 0009168062, SCN 916 806), which is due on October 15, 2008, carries a coupon of 3.5% and has an issue/fixed reoffer price of 99.29%. The spread is thus 5 basis points above mid-swaps and 18.2 basis points above the BOBL 143 due in October 2008. The issue will be listed on the Dublin and Frankfurt Stock Exchanges. Payment date is October 15, 2003.
The benchmark bond is rated Aaa by Moody´s and AAA by S&P.