Austria, EDC piggyback on Germany's three year blowout

The Republic of Austria and Export Development Canada are today issuing three year dollar benchmarks on the back of Germany's phenomenally successful re-entry into the dollar market. Germany achieved a price of swaps less 25bp — the tightest spread since last October — and a book of $11bn for a $4bn three year deal. Austria is hoping to print between $1bn and $2bn and EDC $1bn. Price talk is mid-swaps flat and less 16bp respectively. Read EuroWeek on Friday for coverage of the week’s deals and to see which SSA borrower will be next to take advantage of the seemingly unquenchable demand for dollars.