Commerzbank AG (CMZB)

No results found for "".

Commerzbank AG (CMZB)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	FNCL	PRCD	CMZB	Commerzbank AG	€750		1	EMEA	Sep 16, 2026

Tranche #1Commerzbank AG

currency

EUR

size (m)

750.000

maturity

Sep 24, 2030

type

Fixed to Floating

tenor

4.000

call

3.00

registration

Reg S Only

benchmark

Swaps

ranking

Senior Non-Preferred

moody's

Baa1

s&p

BBB

fitch

re-open/tap

ipt

MS+95 area

ipt-pxd

-25

guidance

STL

spread

coupon

4.125%

spread set

price

99.77100

yield

4.208%

book size (m)

3,150

peak book (m)

3,150

x-covered

4.2

book attrition

0.00%

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

3,150

peak book (m)

3,150

x-covered

4.2

book attrition

0.00%

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

Book size: 3150; Redemption: 2029-09-24; Registration: Reg S Only; Comments: OBL 2.100% 12 April 2029 at 97.175 // B+94.5 // HR 116%. Tax Call: Yes. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: 851WYGNLUQLFZBSYGB56;

Relative Value

Senior Non-Preferred FTF
NC3yr (Sep 2029) @ MS+95a
Implied Spread for fresh NC3yr @ MS+64
Priced at MS+70
NIC of +6

COMPS
Ticker	Rating	Size	CPN	Issue Date	First Call	Maturity	I+(bid)
CMZB	Baa1/BBB/-	750M	3.125	Jun-25	Jun-29	Jun-30	60
CMZB	Baa1/BBB/-	500M	3.125	Nov-25	Nov-29	Nov-30	66

Hide Details

CreditFlow: End of Day (Europe IG)	Sep 16, 2026

Sep 16, 2026

1 to 1 of 1

	PRICED: Commerzbank Aktiengesellschaft €750m 4NC3 SNP FXD/FRN; MS+70bp	Sep 16, 2026
	ALLOCATIONS OUT: Commerzbank €750m 4NC3 SNP FXD/FRN; MS+70bp	Sep 16, 2026
	LAUNCHED: Commerzbank Aktiengesellschaft €750m 4NC3 SNP FXD/FRN; MS+70bp	Sep 16, 2026
	NEW ISSUE: Commerzbank Aktiengesellschaft € bmk 4NC3 SNP FXD/FRN; MS+95a	Sep 16, 2026