Commerzbank

Commerzbank’s tight tap of its recently priced €750m three year bond on Monday was based on feedback the original issue was illiquid because of its small size.

German printing equipment maker Heidelberger Druckmaschinen announced a €200m bond issue on Monday that is rated Caa1/CCC+.

Commerzbank has tapped a three year senior bond priced last month some 10bp inside the original deal, showing a divergence in investor appetite for German financials exposure.

ZF Friedrichshafen is preparing to launch its long-awaited first public bond, to refinance its acquisition of TRW Holding of the US last year.

British aerospace and defence firm Cobham is looking for a €100m Schuldschein, a rare UK deal for the German promissory note market.

Turkiye Sinai Kalkinma Bankasi (TSKB) has mandated five banks to arrange a dollar Reg S bond — BNP Paribas, Citi, Commerzbank, ING, and Standard Chartered Bank.

ING is set to leap into the post-Easter market for its first additional tier one deal, looking to add to a recent hot streak for subordinated paper.

Sentiment improved in covered bonds this week, mirroring the better backdrop in credit markets. Two German issuers found solid demand for their deals, in contrast to the previous week when issuers had struggled to sell bonds. Both this week’s trades were in the intermediate sector, in contrast previous deals which had been in the oversupplied long end of the curve.

French automotive equipment supplier Faurecia on Tuesday printed a €200m tap of its €500 3.125% senior unsecured bond, then it returned to the high yield market for €100m more.

Steel-based goods manufacturer Voestalpine has signed a €900m loan consisting of a €600m revolving credit facility and a €300m term loan.

Stada, the unrated German generic and branded drugs maker, issued a €300m seven year bond on Tuesday, but failed to tighten the pricing, in tough market conditions.

Stada, the unrated German generic and branded drugs maker, has hired banks for a seven year euro bond.