By Laura Contemori – ROME (Econostream) – The German state of Hesse on Thursday raised €1 billion through a new seven-year senior unsecured unsubordinated state treasury note (Landesschatzanweisung).

The note matures on July 6, 2033 and carries a fixed annual coupon of 2.875%.

The deal was reoffered at 99.383, corresponding to a yield of 2.974%, or 17bp over mid-swaps.

The reoffer level was equivalent to 27.7bp over the 2.30% Bund due February 15, 2033.

Hesse is rated AA+ with a stable outlook by S&P and AAA with a stable outlook by Scope.

Settlement is scheduled for July 6, 2026.

The note is governed by German law and listed in Frankfurt.

Barclays, Commerzbank, Crédit Agricole CIB, Danske Bank, DZ BANK and LBBW acted as joint lead managers.