January 08, 2009
Commerzbank with Benchmark Bond
As the first German issuer Commerzbank is launching a Benchmark Bond guaranteed by the Special Fund Financial Market Stabilization (SoFFin). The bond is to have a term of three years and be endowed with a fixed coupon. Joint bookrunners for the placement are Commerzbank and Dresdner Bank as well as Bayerische Landesbank, BNP Paribas, DZ Bank, HSH Nordbank, HypoVereinsbank, LBBW and WestLB. With the Benchmark Bond Commerzbank obtains additional leeway for its loan business. The leading German bank for the SME sector (Mittelstand) had a double-digit increase in its credit volume for corporate clients to some 43 billion euros in 2008. In December, Commerzbank announced an additional SME program with loans totaling 2.5 billion euros.
