These are the details of the selected bond:
- Issuer: Commerzbank
- Covered bond rating(s) at launch: Aaa (Moody's)
- Amount: EUR1,250m
- Maturity date: 15 January 2031
- Re-offer price: 99.617
- Coupon: 2.625%
- Swap spread: 17bp
- Government spread: 27.2bp
- Pricing date: 8 January 2026
- Settlement date: 15 January 2026
- Bookrunners: ABN Amro, BayernLB, Commerzbank, DZ, Erste, Helaba, Natixis, Nordea
- Country: Germany
- ISIN: DE000CZ457V6
- Collateral type: Public
- The CBR bond ID: 3266
- Green, social, sustainability description: unlabelled
- Notes: Simultaneous with EUR1.25bn 3.125% January 2036 issue (DE000CZ457U8). Final book above EUR4.2bn with 121 accounts. Banks/financial services 59%, funds 18%, insurance companies/pension funds 11%, central banks/official institutions 8%, corporates 3%, other 1%. Germany 44%, Nordics 20%, southern Europe 11%, Netherlands/Luxembourg 10%, UK 5%, France 3%, Austria/Switzerland 3%, Asia 2%, other 2%.
