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January 09, 2009

EUR 5 billion Benchmark Bond successfully placed

  • Strong demand for the first government-guaranteed bond
  • Reuther: 'Together with SoFFin we are sending out a signal that fosters trust'

Commerzbank placed the first government-guaranteed bond from Germany. The benchmark bond had a volume of EUR 5 billion. Within three hours orders had reached around EUR 9 billion. The bond has a maturity of three years and a coupon of 2.75% p.a.

Joint bookrunners for the placement were Commerzbank and Dresdner Bank as well as Bayerische Landesbank, BNP Paribas, DZ Bank, HSH Nordbank, HypoVereinsbank, LBBW and WestLB.

The Benchmark Bond is to refinance Commerzbank's loan business. 'Together with SoFFin we are sending out a signal that fosters trust and can also stimulate the interbank market', says Michael Reuther, responsible for the capital market business in the Board of Managing Directors of Commerzbank.

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