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Covered Bond Deal Reviews

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◆ Almost €700m of orders lost… ◆ …but deal still prices tight ◆ Trade Commerzbank's third five year this year
◆ New deal offers half the spread of the last one ◆ Investors pile into rare trade's book ◆ Pick up provided over govvies
◆ South Korean lender enters sterling for the first time ◆ Spread move the biggest in 18 months ◆ Deal lands flat to fair value and euros
◆ Higher spread deals from established jurisdictions attract demand ◆ RLB Steiermark returns after more than two years away ◆ No premium needed for CCF's third of 2025
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