Commerzbank

Bank Nederlandse Gemeenten became the latest public sector borrower to hit the long end of the euro curve on Wednesday and found strong demand, which allowed it to increase the bond.

After issuing a £500m seven year bond in March, Glencore repeated the performance, this time in the euro market. It issued a €500m 7.5 year bond that achieved a similar book size and price tightening. Telecom Italia also issued for the second time this year, after losing its Fitch investment grade rating on Friday.

L-Bank and the Province of Manitoba kept the dollar SSA market busy on Tuesday, launching deals totalling $2.5bn.

The dollar sovereign, supranational and agency primary market has kicked off the week with an L-Bank mandate, as bankers continue to see little more than sporadic European SSA issuance in the currency in the weeks ahead.

Germany’s FEV Group has signed a €275m five year revolver, with the engine design firm refinancing an old deal and increasing the size of its bank debt in the process.

Austrian plastics maker Borealis has returned to the Schuldschein market, seeking euros and dollars.

UniCredit will seek to ensure it hits its 2019 financial targets before going ahead with a bid for Germany’s Commerzbank, if the latter’s talks with Deutsche Bank collapse.

Mauritius Commercial Bank has raised a new dual tranche $800m loan after receiving commitments of over $1bn. The deal was welcomed by bankers as one of the few new money financings in the market.

Fiat Chrysler Automobiles has extended the maturity of its €6.25bn syndicated bank facility, as loan market activity picks up at the beginning of the second quarter.

Otto, the family-owned German online and catalogue retailer, brought its first sustainable bond issue on Thursday. But despite it offering an interesting new flavour to green bond investors, the deal's sale produced an underwhelming result.

Europe’s most prolific corporate bond issuer re-entered the market on Monday for its second multi-tranche deal of the year, and issued €2.75bn, slightly more than at its €2.5bn outing in January. The book for Volkswagen Financial Services’ three tranche issue was somewhat smaller this time, however.

Shares in Deutsche Bank, the largest bank in Germany, fell as much as 4.5% on Thursday after reports that it is considering raising fresh equity capital to finance its potential merger with Commerzbank, two years after its last €8bn rights issue.