Wüstenrot & Württembergische AG Launches €300 Million Subordinated Bond

On October 27, 2025, Wüstenrot & Württembergische AG (W&W AG) successfully launched a subordinated bond worth €300 million. The bond features a 20-year term with a call option after 10 years. It bears a coupon rate of 4.983%, representing a premium of 240 basis points over the swap rate of 258.3 bp. Morgan Stanley and LBBW acted as the lead book runners. The issuance attracted significant interest from international investors, particularly in Europe and the UK.

This financial move allowed W&W AG to capitalize on favorable market conditions, aiming to optimize its capital structure both from regulatory and rating standpoints. The keen interest from the market underscores the confidence in W&W AG's financial stability and strategic positioning.