Commerzbank

SSA names found the going varied in dollars on Tuesday, with the Inter-American Development Bank only just covering the minimum size of its tightly priced short end trade while Land NRW and L-Bank saw chunkier demand.

Acciona, the Spanish infrastructure and renewable energy company, appealed to investors with its green, triple tranche Schuldschein offering, which closed last week at €155m.

A trio of issuers burst into the sovereign, supranational and agency dollar market on Monday, as syndicate officials say they have been pleasantly surprised by how quickly the sector bounced back after a tricky period.

Could Deutsche Bank’s relegation from the top table of investment banks puncture Germany’s positive impression of its banking system, leading to a breakthrough in Europe's banking union?

Last week’s tightly priced bond issue by KfW has inspired a slew of issuers to print three year dollar notes this week. The Asian Development Bank was first off the blocks on Tuesday with a new benchmark, while a tight Export Development Canada trade followed the next day.

Commerzbank has decided to replace its retiring corporate clients head with Roland Boekhout, who works for ING — a bank that had been rumoured to be interested in buying the German firm.

Export Development Canada and Erste Abwicklungsanstalt raised short term dollar debt on Wednesday as the market was buoyed by a dovish congressional testimony from the chair of the Federal Reserve.

Last week’s tightly priced bond issue by KfW has inspired a slew of issuers to print three year dollar notes this week, a banker said. The Asian Development Bank was first off the blocks on Tuesday with a new benchmark, and Export Development Canada and Erste Abwicklungsanstalt are set to follow.

An undersupplied sterling bond market was on Wednesday given two new corporate deals to chew on: a £350m three year from carmaker BMW and a £250m no-grow eight year from UK retailer Marks & Spencer. Abertis Infraestructuras, the Spanish roll road operator, also offered a €1.3bn six and 10 year deal.

Commerzbank has appointed a head of public sector origination and syndication, and a head of international banks, as part of a reorganisation of its debt capital markets business, GlobalCapital understands.

Commerzbank was more than 10 times subscribed for its first ever additional tier one on Tuesday, despite widespread disagreement in the market about what would constitute fair value for the new securities.

A renewed appetite for risk was felt in Europe's corporate bond market this week, after US president Donald Trump appeared to have made overtures to the leaders of China and North Korea. Two issuers took advantage: Merck of Germany, with an acquisition financing, and ArcelorMittal, with a modest tap.