Commerzbank
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French bank aims for size over price, but lands in line with euro funding sources -
Sub-sovereign continues to chip away at its €9.6bn annual programme
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◆ New structure taps investor demand for short-dated credit ◆ Issuer saves on three month versus six month basis ◆ Callable format adds funding flexibility
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German sub-sovereign brings new deal as investors distracted by busy FIG market
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Borrowers benefit from scarcity value and lack of competing supply
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Issuer was one of a handful of German SSAs to benefit from a quiet primary market this week
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WIBank set to add to issuance with 10 year print
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The sector’s tight valuation versus the likes of KfW is capping demand
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Finanzagentur offers 2bp premium for investors with a 5bp concession for Greece
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Real estate giant draws “unexpected” investor diversity to unloved sector
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KommuneKredit, CDC and MuniFin keep euro and dollar investors busy
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Car finance bank issues largest Swissie bond by a foreign corporate since 2021
