Commerzbank
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The European Stability Mechanism offered very little new issue premium on a pair of taps to wipe out its €2.5bn funding needs for the second quarter in one go. -
BP on Thursday gave the European corporate bond market its first test of a really big, multi-tranche, investment grade issue since Easter, and showed that the market is every bit as keen as before the break. Order books for the three part bond were big and new issue premiums slim to invisible.
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Groupe PSA, the French car maker, has sold more than €500m of Schuldscheine, as a flurry of French firms find fortune in the market.
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Deutsche Bank and Commerzbank will have to sort themselves out without the help of each other, after merger talks collapsed this week. Speculation mounted as to whether Deutsche would now be forced to slash its investment banking operations, and about whether Commerzbank would be embraced by another European peer.
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Gaab retires from Deutsche — Bank of America nabs FIG banker from Morgan Stanley — Credit Suisse bumps up IG trading team
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Finnish chemical company Kemira has signed a €400m revolving credit facility, becoming the latest firm to switch its bank debt to sustainability-linked margins.
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Peter Schikaneder, head of global corporate bond origination at Commerzbank, has retired. He has been a well known figure in the bond market since the 1990s.
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KFW and Bank Nederlandse Gemeenten (BNG) were able to come flat or just through the curve with their long-end trades in the euro public sector market this week.
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German defence firm Krauss-Maffei Wegmann (KMW) has signed a €350m loan, joining Port of Rotterdam and FEV Group in the market for similar sized deals amid a wave of mid-market activity in Europe.
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Bank of China sold another blockbuster Belt and Road transaction on Wednesday, raising $3.8bn across eight tranches of notes in five currencies across five bank branches, It was the largest transaction sold under the BRI label.
