Commerzbank

◆ French lender fixed deal at half the order book's size ◆ Covered offered small new issue premium ◆ Banker said CRH's and UniCredit Austria's deals showed 'fatigue'

◆ Broken tenor answers two requirements, says banker ◆ Issuer's last covered bond deal was in November 2025 ◆ Only Italian comparables picked

◆ Soft bullets offer no benefit to Spanish issuers — BBVA ◆ Investors like certainty of hard bullets, says banker ◆ Lead managers use seven Spanish deals as comps

◆ Canadian bank had primary market to itself ◆ Deal offered small new issue premium, says banker ◆ EBC meeting expected to close the pipeline tomorrow

◆ Belgian issuer places euro benchmark deal at €500m ◆ One of three covered bonds issued on Wednesday ◆ 'Numbers tell their own story' says banker

◆ Canadian bank tightened spread by 6bp ◆ Euro benchmark deal placed at €1.25bn ◆ Canadian issuers have been busy in past three months

Kangaroo and Panda market grow as banks create US dollar FRNs to meet Asian demand

◆ Banker said deal offered small new issue premium ◆ Green label was 'helpful' if not 'decisive' ◆ Bank has issued 15 tranches of covereds in three years

Proposals to lower Liquidity Coverage Ratio haircuts has reignited hopes of equivalence

◆ German bank achieves 'decent' pricing ◆ NIP paid, secondary performance predicted ◆ 'Smart' trade likely to help future issues, rival banker says

◆ Swiss bank landed a dual tranche transaction in February ◆ Banker said group is 'already concentrated around 2029-2030' ◆ UBS's tap was the only activity in Wednesday's covered primary market

Germany’s family-owned businesses have become a battleground in UniCredit’s bid for Commerzbank. But every bank is scrapping for the same pool of fees