These are the details of the selected bond:
- Issuer: Commerzbank
- Covered bond rating(s) at launch: Aaa (Moody's)
- Amount: EUR500m
- Maturity date: 10 October 2030
- Re-offer price: 99.477
- Coupon: 2.50%
- Swap spread: 23bp
- Government spread: 30.5bp
- Pricing date: 2 October 2025
- Settlement date: 10 October 2025
- Bookrunners: Commerzbank, DZ, NordLB, RBI
- Country: Germany
- ISIN: DE000CZ457K9
- Collateral type: Public
- The CBR bond ID: 3227
- Green, social, sustainability description: unlabelled
- Notes: Final book EUR860m (inc. EUR50m JLMs) with 51 accounts. Banks/financial services 56%, asset managers 25%, insurance companies/pension funds 12%, central banks/official institutions 7%. Germany 50%, Nordics 25%, southern Europe 9%, France 9%, Austria/Switzerland 4%, UK 2%, Benelux 1%.
