ÖKB and SEK find success in fives and threes

Österreichische Kontrollbank (ÖKB) sold its first benchmark of the year on Tuesday, a five year dollar global. The oversubscribed deal drew healthy demand, particularly from central banks, and was priced 5bp inside of where initial price thoughts were offered on Monday. Swedish Export Credit Corporation (SEK) was also active in dollars, selling a three year deal. Leads on both deals said that demand was stimulated by volatility in rates encouraging investors to look at shorter maturities.