Commerzbank

Germany’s Deutsche Bahn printed a €2bn dual tranche hybrid trade on Monday, with bankers off the deal heaping accolades on the borrower.

High grade corporate borrowers were quick out of the traps on Monday, cramming in before the blackout period to raise around €5bn-equivalent of bond funding from order books many multiples of that.

UBI Banca launched a €500m non-preferred senior bond this week, supported by orders of €1.4bn at peak, but it had to pay a new issue premium, according to a FIG banker.

Deutsche Bahn, the German railways company, wrapped up a roadshow for a dual tranche hybrid on Thursday, with investors looking at a trio of other issuers from a variety of industries for comparable notes.

Deutsche Bahn is hitting the tracks for a dual tranche hybrid trade, with the railway company due to meet investors from Wednesday.

The fourth quarter began on a rocky note for global equities but the US high grade bond market has shrugged off concerns about stalling growth and issuance conditions remain strong.

Commerzbank has come through a period of intense scrutiny with a no-nonsense strategy that reflects its culture. A dash of investment banking ambition is thrown in, writes David Rothnie.

Finland’s Mesto has signed €800m of revolving credit facility, as the industrial machinery company builds up its cash war chest in preparation for its partial demerger.

Hannover Re has added to a string of recent new issuance from European insurers, opting for an unusual maturity structure for its tier two this week.

Initial price guidance has been set for two corporate bonds from issuers in the CEE region — EP infrastructure and Metinvest. Both deals expected to be printed later on Tuesday.

German car parts maker ZF Friedrichshafen has closed its Schuldschein and agreed to take just over €2bn, according to market sources. Schuldschein participants believe this demonstrates the private market’s ability to compete with its public equivalents.

German car parts maker ZF Friedrichshafen has closed its Schuldschein on Friday, and is about to decide how big to make the deal. ZF's €2.2bn issue in November 2014 is the biggest deal the market has ever seen — but several sources believe this transaction may be bigger.