NORD/LB Luxembourg Covered Bond Bank (NORD/LB CBB) issued on Tuesday a Luxembourg “Lettres de Gage publiques” Pfandbrief with a term of 3 years and a volume of US$ 650 million. This is the first US dollar issuance to be performed by NORD/LB CBB. The issuance makes US dollar funding available to the NORD/LB Group for the funding of its international lending business.

M.M.Warburg & CO (AG & Co.) KGaA and NORD/LB Norddeutsche Landesbank Girozentrale will pool their Asset Management activities into a single company. The new, medium-sized company with locations in both Hamburg and Hanover as well as assets under management and administration totalling more than EUR 34 billion will be one of the most important asset managers in Northern Germany. Operational management of the new company will be assumed by Warburg Bank, which will take a 75.1 per cent stake.