The Bund-Laender-Anleihe (Bund-Laender bond) was a fixed-income security with a maturity of around 7 years from the time of issue. Interest was paid once a year.

Primary market

The Bund-Laender-Anleihe, which was issued in a volume of € 3 bn by the Federal Government and ten states in 2013, was not a 100 % German Government security due to the partial debt-like liability of the issuer.

The Bund-Laender-Anleihe was issued on 26 June 2013 as part of a syndicate process with a coupon of 1.5 % and an issuance volume of € 3 bn. In addition to the Federal Government, 10 Federal states took part in the issue with varying amounts.

Federal Government and state shares of the issue

Secondary market

The Bund-Laender-Anleihe was traded on all German securities exchanges, on electronic trading systems and OTC. After the issue, the consortium banks ensured that there is sufficient tradability. The Federal Government/Finance Agency did not offer any secondary market activities for the Bund-Laender-Anleihe.