Commerzbank
-
Deal would lead to heavy cost cuts, but could create strong competitor -
As in Mustier’s day, Commerz ― and European banking sector ― are in play
-
◆ Analysts lower UniCredit AT1 recommendation ◆ Senior spreads could converge ◆ Are there other takeover targets?
-
◆ Agency rides the ‘French agency hype’ ◆ Deal tightens more than expected ◆ Book is one of its largest
-
UniCredit has bought 9.9% of Commerzbank partly through a block trade, founder sells his Jet2 stake and natural resources company raises capital for growth M&A
-
Euros are only ‘good on paper’ and dollar funding still attractive — for some
-
◆ Missing fast money causes problems ◆ Fair value is a moving target ◆ SEK sails through with no-grow
-
◆ Issuer faces stiff competition ◆ First benchmark deal of the year ◆ Länder-KfW spread 'should be moving out again'
-
◆ Ten year Länder paper widens against KfW ◆ Deal strikes balance between size and price ◆ Investors on board despite deeply negative OAT spread
-
◆ German deal is first syndicated benchmark in five weeks ◆ Slim premium paid to secure size ◆ Issuer’s covered bonds are best German performer year to date
-
◆ First public SSA euro bond in weeks ◆ Deal has an unusual tenor ◆ Pricing ‘couldn’t have gone much tighter’
-
The FIG primary market reopened this week after the conclusion of the French parliamentary election but it has emerged that not every issuer is returning to a rapturous response
