Germany and Austria in focus in difficult GG market

January 21, 2009 12:00 am

Transactions from IKB and Kommunalkredit Austria are in focus this week in the government guaranteed (GG) market. IKB managed to raise Eu2bn at 30bp over mid-swaps, wider than most recent German issues. Kommunalkredit Austria meanwhile has announced guidance on a two year issue, 3bp tighter than where Erste Bank priced its deal last week. The second issue from Denmark is also set to be priced this week, a September 2010 deal from Nykredit at 40bp over mid-swaps.

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