1150 GMT - Commerzbank markets a dual-tranche issue of euro-denominated benchmark three- and 10-year covered bonds Thursday. The three-year bond is a public sector covered bond, or oeffentlicher Pfandbrief, maturing in February 2028. The spread is set at midswaps plus 22 basis points, versus initial price talk of around midswaps plus 28bps, a lead manager involved in the deal says. The 10-year bond is a mortgage covered bond, or Hypothekenpfandbrief, maturing in February 2035. The spread is set at midswaps plus 46bps, versus initial price talk in the area of midswaps plus 53bps. Demand so far for each bond is more than 2.3 billion euros, the lead manager says. (jessica.fleetham@wsj.com)
(END) Dow Jones Newswires
February 20, 2025 06:50 ET (11:50 GMT)
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