Commerzbank

Olaf Scholz, finance minister and vice-chancellor for Germany, said that there was 'no debate' about the creation of a bad bank in a prospective merger between Deutsche Bank and Commerzbank. He also does not believe that the recapitalisation of NordLB by the association of German savings banks would contravene EU state aid rules.

Mashreqbank, the largest privately owned bank in the United Arab Emirates, is embarking on a roadshow to market a dollar benchmark five year fixed rate Reg S senior unsecured bond.

GlobalCapital revealed the winners of its 2018 Loan Awards at its annual Syndicated Loans and Leveraged Finance Awards Dinner at the Jumeirah Carlton Tower in London on February 6. The complete results are below. GlobalCapital congratulates all the winners and nominees.

Demand for corporate bonds is strong but it is at its strongest for green and hybrid debt, especially for deals that combine both qualities. On Tuesday, Spanish utility Iberdrola found similar demand for green hybrids to that which Engie and EDP had benefited from in January, and market participants are starting to revise their issuance forecasts for the asset class.

Finland and Madrid hit screens on Monday to capitalise on the red hot appetite for euro sovereign supply in the 10 year part of the curve.

Deutsche Bank’s weak set of results on Friday were driven by losses in its corporate and investment bank, notably in fixed income and currencies trading, but bank chiefs suggested the CIB performance was set to improve. The bank, subject to rumours about a merger with Commerzbank, also made sure to state that it had more than enough capacity to pay additional tier one coupons.

Guarantor: Federal State of North Rhine-Westphalia

While banks fight shy of big-ticket mergers, a select group of private equity firms are leading the restructuring of the industry in Europe, writes David Rothnie.

Several public sector borrowers tapped the socially responsible investment (SRI) market this week, with more deals expected in February, before what many analysts expect will be a record year for the asset class.

A quiet week for corporate bond issuance may have helped BMW Finance achieve tight pricing on Thursday, but selling its largest ever deal with new issue premiums in single digits was still an excellent outcome when compared to the premiums being paid at the start of the month.

Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany

Rating: Aa1/AA+/AAA