Commerzbank
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Deal includes $1bn 3.75 year term loan -
The last public covered bond before before the summer lull was issued earlier this year than in any of the last 15
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The German pharmaceutical wholesaler was upgraded to BBB- by S&P last month
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Investors welcome chance to diversify portfolios
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Two top covered analysts have said Luminor covered bonds will continue to be issued under Estonian law if the deal completes
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Oil major attracts 20 banks to two year loan underwritten by BNP Paribas and Société Générale
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The syndication is among the Dutch development bank's largest in the region and attracted Middle East lenders
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Italian energy engineering company exercises option to borrow further €115m
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Utilities metering company could refinance Schuldschein in coming months
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◆ French lender fixed deal at half the order book's size ◆ Covered offered small new issue premium ◆ Banker said CRH's and UniCredit Austria's deals showed 'fatigue'
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◆ Broken tenor answers two requirements, says banker ◆ Issuer's last covered bond deal was in November 2025 ◆ Only Italian comparables picked
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◆ Soft bullets offer no benefit to Spanish issuers — BBVA ◆ Investors like certainty of hard bullets, says banker ◆ Lead managers use seven Spanish deals as comps
