Top stories
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Commerz: Mittelstand clients didn’t want Deutsche merger
Commerzbank’s small and medium sized German corporate clients did not want to be serviced by the firm if it were merged with Deutsche Bank, according to Michael Reuther, head of the corporate clients unit at the former. His unit is now hoping to take more revenue from its existing clients, after growth in several of them in the first quarter.
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Deutsche-Commerz talks fall through: what next?
Deutsche Bank and Commerzbank will have to sort themselves out without the help of each other, after merger talks collapsed this week. Speculation mounted as to whether Deutsche would now be forced to slash its investment banking operations, and about whether Commerzbank would be embraced by another European peer.
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People news in brief
Gaab retires from Deutsche — Bank of America nabs FIG banker from Morgan Stanley — Credit Suisse bumps up IG trading team
Commerzbank in the markets
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Plain sailing for Commerz, Nordea, while BNPP tightens too hard for some
Commerzbank did not look to be hindered by uncertainty around its future in its senior preferred issue on Tuesday, while Nordea picked up green demand for its own offering. Meanwhile, BNP Paribas drove in pricing on its senior non-preferred deal, and ended up turning off some investors.
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TDB USD500m 4.875% May 24
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Three more add to French Schuldschein frenzy
A trio of French companies moved ahead with Schuldschein deals this week, and bankers expect the coming weeks to be packed with borrowers seeking to raise funds before the summer.
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Middle East FIG MTNs flow
MTNs from Middle Eastern banks have flowed freely over the last week, with borrowers printing a range of currencies to take advantage of basis swap opportunities, amid little competition from European financials, say bankers.
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ESM EUR1.5bn 0% Jan 22 tap, EUR1bn 0.5% Mar 29 tap
Commerzbank In The Key League Tables
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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EDC GBP600m FRN May 24
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TDB USD500m 4.875% May 24
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Hamburg Commercial Bank EUR500m 0.572% May 22
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NEPI EUR500m May 23 3.125%
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Kenya USD900m 7% May 27, $1.2bn May 32 8% amortisers
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Crédit Mutuel Arkéa EUR500m 1.625% May 29 non-preferred
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LBBW EUR750m 0.375% May 24 non-preferred green
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Erste Group EUR500m 0.875% May 26
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HSBC France EUR1bn 0.25% May 24
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UK GBP4.75bn 1.625% Oct 54
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EIB PLN1bn 2.875% Nov 29 Climate Awareness Bond
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KfW EUR3bn 0.01% May 27 green bond
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World Bank EUR1.5bn 0.25% May 29 sustainable bond
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NIB USD1bn 2.25% May 24
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World Bank GBP1.25bn FRN May 24
All International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 161,597.45 | 701 | 8.06% |
| 2 | Citi | 158,100.45 | 638 | 7.89% |
| 3 | Bank of America Merrill Lynch | 131,322.73 | 520 | 6.55% |
| 4 | Barclays | 126,396.71 | 489 | 6.30% |
| 5 | HSBC | 104,257.54 | 522 | 5.20% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Bank of America Merrill Lynch | 12,900.23 | 34 | 6.65% |
| 2 | BNP Paribas | 12,334.48 | 61 | 6.36% |
| 3 | UniCredit | 11,196.47 | 58 | 5.77% |
| 4 | Citi | 9,580.75 | 37 | 4.94% |
| 5 | Deutsche Bank | 8,953.95 | 35 | 4.62% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Morgan Stanley | 5,454.13 | 25 | 10.64% |
| 2 | JPMorgan | 4,766.13 | 27 | 9.30% |
| 3 | Goldman Sachs | 4,280.20 | 20 | 8.35% |
| 4 | Citi | 3,649.88 | 23 | 7.12% |
| 5 | UBS | 3,602.23 | 16 | 7.03% |
