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 2036
- Re-offer price: 99.712
- Coupon: 3.125%
- Swap spread: 27bp
- Government spread: 32.1bp
- Pricing date: 8 January 2026
- Settlement date: 15 January 2026
- Bookrunners: ABN Amro, BayernLB, Commerzbank, DZ, Erste, Helaba, Natixis, Nordea
- Country: Germany
- ISIN: DE000CZ457U8
- Collateral type: Mortgage
- The CBR bond ID: 3267
- Green, social, sustainability description: unlabelled
- Notes: Simultaneous with EUR1.25bn 2.625% January 2031 issue (DE000CZ457V6). Final book above EUR4.1bn with 120 accounts. Banks/financial services 59%, funds 19%, insurance companies/pension funds 11%, central banks/official institutions 9%, other 2%. Germany 52%, southern Europe 11%, Netherlands/Luxembourg 10%, CEE 9%, UK/Ireland 7%, Austria/Switzerland 6%, France 3%, other 2%.
