Commerzbank

Wind turbine company Nordex signed €1.4bn in loans on Tuesday. The five bookrunners flexed to accommodate a planned acquisition, in what was intended to be a plain refinancing.

Terex, the US lifting and material solutions company, has allocated $900m equivalent across two term loan facilities yesterday, widening the pricing on both.

Commerzbank Corporates and Markets reviews European IPO activity

Commerzbank

Market participants believe the FIG primary market has seen its last deal of the year, with banks now positioning themselves for the busy January supply window and next week’s expected US rate hike.

Canadian Imperial Bank of Commerce took advantage of a back-up in three year euro swap yields following the European Central Bank meeting last week to issue a covered bond of the same tenor.

Activity in the covered bond market had been expected to slow down but instead it has been surprisingly busy this week, with as many as three euro benchmarks surfacing over the first three days.

Corporate treasurers across Europe will be thanking Daimler today, as the German car maker took the lead on Tuesday and showed that the bond market is wide open for deals.

Commerzbank and Svenska Handelsbanken both launched senior deals on Monday, as the FIG market’s positive sentiment continued unhindered by what for many was the disappointing outcome of last week’s European Central Bank meeting.

Agence France Locale printed its first bond denominated in dollars this week.

Zumtobel, the Austrian lighting manufacturer, made one change to its seven bank syndicate in a €500m loan refinancing.

Commerzbank Corporates & Markets outline the current attraction of the High Yield Bond Market