Commerzbank
-
Commerzbank took advantage of a rise in yields to launch a nine year Pfandbrief on Monday. With yields rising 6bp overnight amid an improvement in risk sentiment, bankers suggested a positive yielding long seven year can expect a fair reception. -
Commerzbank was careful to leave a bit of premium on the table for investors on Wednesday, as it took home €500m of seven year funding ahead of the Thanksgiving holiday in the US.
-
Investors showered a debut dollar deal from Uzpromstroybank with orders on Monday, with the order book for the $300m bond peaking at $1.2bn. But despite the success for the privatisation candidate, government officials are hoping that future Uzbek bond issuance will favour local currencies.
-
Uzpromstroybank, the BB-/BB- rated bank that is majority owned by the Uzbek government, had racked up more than $800m of orders by lunchtime on Monday for its five year dollar bond.
-
A rare borrower from New Zealand, telecoms infrastructure group Chorus, is to roadshow for a bond in Europe, as the continent's mountain of rated corporate debt reached €6.4tr.
-
Severn Trent, the UK water company, has hired banks to arrange a roadshow, so that it can market its new sustainable finance framework to potential bond investors.
-
LEG Immobilien, a German property company, brought the latest in a string of multi-tranche bonds to the European bond market this week, brushing off worries that the busy market was showing signs of fatigue.
-
-
Perhaps the last two public sector bond benchmark issues of the year hit screens in euros this week and, judging by their reception, the market is closing right on time.
-
High grade companies stormed the European bond market with an array of tranches on Wednesday, and investors snapped up the trades, despite it being so late in the year.
-
Rentenbank raised €1bn of 10 year cash on Wednesday. The deal did not reach full subscription and the leads were unable tighten the spread from guidance, thanks to a rates sell-off affecting demand from Asia.
-
LEG Immobilien, the German property company, marketed a multi-tranche bond on Tuesday. Investors looked at the curve of domestic rival Vonovia to divine relative value.
