Commerzbank
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SMBC Nikko has hired another official from Commerzbank as it builds up its bond business in Europe. -
A trio of firms slipped into the market to place senior paper this week, and with spreads threatening to creep wider, bankers were keen to see lenders make use of the windows available.
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Ryanair, the Irish budget airline, landed a far more solid bond issue this week than shopping centre operator Unibail-Rodamco-Westfield (URW) had a day earlier, in an early indication of what the bond market might look like as the worst-hit sectors recover from the coronavirus pandemic.
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SMBC Nikko has hired Markus Steilen as managing director and head of continental European debt syndicate, based in Frankfurt. Steve Apted remains head of syndicate in London.
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Ryanair, the Irish budget airline, landed a far more solid bond issue on Tuesday than shopping centre operator Unibail-Rodamco-Westfield had a day earlier, as both companies try to recover in sectors ravaged by the coronavirus pandemic.
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CaixaBank extended its social bond curve with a non-preferred senior deal on Tuesday, raising €1bn with what was its first deal since it completed a merger with Bankia in late March.
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Triple-B credit OC Oerlikon achieved a remarkable result on Monday, said bankers, as it issued a Sfr575m three tranche deal, which it will use to fund its acquisition of INglass. It was joined on screens by Pfandbriefbank's smallest deal since 2019.
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Sucafina, a Swiss coffee company, and Suelzle Holding, a German steelmaker, have signed sustainability-linked loans, and bankers say there are more from the region coming to fruition.
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Commerzbank has outperformed expectations by reporting a net profit in the first quarter of the year — even accounting for a large restructuring charge — as the German lender trims its workforce and sharpens its focus on the domestic market and German clients.
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Suelzle Holding, a German steel maker, has signed a €140m revolving credit facility, as lenders say there are a handful of similar deals in the works for borrowers in the German speaking region.
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Germany sold a 30 year green bond via syndication on Tuesday, pricing the trade 2bp through its conventional twin bond of the same maturity and coupon.
