Commerzbank

Sean Tai, founder of Debtdomain, spoke exclusively to GlobalCapital to discuss digital platforms in the Schuldschein market: their future, barriers to entry, the risk of fragmentation — and the possibility that Debtdomain's functionality could broaden.

Land Berlin saw orderbooks swell to around four times the size of its €500m no-grow trade on Tuesday, with leads saying the 15 year maturity is the sweet spot to attract bank treasuries.

Strabag has signed bank facilities totalling €2.4bn, the Austrian construction and technology firm becoming the latest borrower to refinance early amid cheap funding conditions.

Deutsche Börse has run an amend and extend operation on a €750m loan to add a sustainable element to its debt, as some lenders continue to rail against the proliferation of what they see as refinancing in all but fees.

Bank Rakyat Indonesia has closed its $700m offshore syndicated loan, with 15 participants joining during syndication.

High yield bond investors in Europe are getting squeezed from both sides, as formerly regular visitors to the market hit investment grade status, and new acquisition financings hit the loan market rather than bonds. Schaeffler’s blow-out debut in the investment grade bond market on Tuesday took out €1.5bn equivalent of former HY product.

The Commerzbank and Deutsche Bank talks have given Europe’s FIG bankers an unexpected source of cheer, writes David Rothnie.

The European corporate bond market’s charmed life continued on Tuesday, as if the intensifying crisis of Brexit was just a dream. Two triple-B issuers and one single-A all found the same deep demand that has greeted every deal for the past few weeks.

Russian borrowers are returning to life as investors start to brush off sanctions risks, though issuance is still weak compared to the same time last year. Evraz hits the road for a five year dollar bond on Wednesday and Credit Bank of Moscow (CBM) came to market on Monday.

The potential merger of Deutsche Bank and Commerzbank has been repeatedly panned since it was first floated, with good reason. But at the level of the whole German banking system, there is a certain logic to it.

KfW, the German state-owned development bank, could be used to support the merged entity of Deutsche Bank and Commerzbank by taking on the government's stake in the latter.

Credit Bank of Moscow (CBM) opened books on Monday for its return to the dollar market, taking orders for five year loan participation notes.