Commerzbank

Deutsche Bank is set to issue the third German Pfandbrief of the week after mandating leads for an ultra-long benchmark. Meanwhile, Deutsche Pfandbriefbank (PBB) has priced the fifth dollar Pfandbrief of the year.

Sparebank 1 Boligkreditt on Tuesday followed Commerzbank into the covered bond market. By coming 20bp back of Commerz, the Norwegian sale was much smoother.

China Orient Asset Management Corp is set for a new five year dollar bond, opening books for the deal on Tuesday morning.

Commerzbank and Sparebank 1 Boligkreditt have mandated leads for 10 year euro covered bond benchmarks after WL Bank issued a 10 year on Monday. Deutsche Pfandbriefbank is due with a dollar-denominated Reg S covered bond benchmark, while the main supply in capital comes from DBS Bank.

The euro market is braced for a difficult close to the year. Given the turbulent conditions expected, green bonds may come into their own.

2016 is expected to be another record year for green bond issuance. Here Mirko Gerhold, Head of DCM Bonds Solutions at Commerzbank, explains the evolution and benefits of the green bond sector. He also looks ahead to the trends expected in the next two to three years and how issuers and investors can benefit in this growing market.

The Eastern and Southern African Trade and Development Bank (PTA) is preparing to refinance a $320m credit line and is in the process of choosing banks to lead the deal.

With an unreconciled order book of almost €800m, Commerzbank’s €250m negative yielding eight year Pfandbrief tap issued on Friday neatly illustrated the desperation of investors.

A $725m loan for Indonesia Eximbank has been allocated, with lenders that committed only to the shorter, three year tranche, experiencing a bigger scaleback than those that opted for the five year.

Indonesia’s Pertamina is expected to launch its long awaited $1.5bn five year financing into general syndication this week, punctuating a quiet period for the southeast Asian loan market.

Auto-parts business Adient on Thursday started pricing a $2bn cross-border bond, attracting high demand for a deal that could be the last high yield offering before the European market breaks for the summer.

A big drop in Commerzbank’s equity markets and commodities (EMC) business made a dent in its overall investment banking revenues for the second quarter of 2016, results released by the bank on Tuesday show. Investment bank boss Michael Reuther said volatility in Asia drove much of the decline.