OeBB 20 year has insurer appeal
The reception to OeBB Infrastruktur’s €1bn 20 year transaction launched today proves beyond doubt there is a deep and willing market for the right name at the right price. Even though markets remain beset by Greek-led volatility and Spanish 10 year yields are 18bp-21bp wider on the day, hitting the 6% mark for the first time in two weeks, the Austria guaranteed deal attracted €3bn of orders from over 100 accounts, enabling it to price 10bp inside initial price thoughts.
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