Commerzbank
-
German sub-sovereign again proves that it 'owns the long end' in euros -
New sale landed with a limited new issue concession, bankers said
-
SSAs look increasingly expensive versus government benchmarks, raising the question of when investors will stop buying
-
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
-
◆ New structure taps investor demand for short-dated credit ◆ Issuer saves on three month versus six month basis ◆ Callable format adds funding flexibility
-
German sub-sovereign brings new deal as investors distracted by busy FIG market
-
Borrowers benefit from scarcity value and lack of competing supply
-
Issuer was one of a handful of German SSAs to benefit from a quiet primary market this week
-
WIBank set to add to issuance with 10 year print
-
The sector’s tight valuation versus the likes of KfW is capping demand
-
Finanzagentur offers 2bp premium for investors with a 5bp concession for Greece
