State-backed agency, Erste Abwicklungsanstalt (EAA), is planning to raise about €1 billion through a bond sale, Financial Times reports. The agency is expected to sell euro-denominated bonds in the second half of March 2011. Deutsche Bank, Barclays Capital, JPMorgan, UniCredit and WestLB are arranging the offering. The agency, which was set up to wind up German bank WestLB’s risk exposures and non-strategic assets, is now a separate entity.

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