Commerz feels regulatory bite as premium soars for tier two
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Commerz feels regulatory bite as premium soars for tier two

Investor hostility to tier two bank debt was plain to see this week as Commerzbank priced a Eu1.25bn deal with a shocking 250bp premium to its senior paper. The deal provided stark evidence of how expensive tier two capital is set to be in the brave new world of resolution regimes and harsher capital regulation.

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