Investors flock to popular senior print from Erste

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By David Freitas
09 Apr 2019

Erste Group was nearly 10 times subscribed for a €500m five year senior bond on Tuesday, with issuers enjoying extremely favourable conditions in the euro market.

Bookrunners Banca IMI, BNP Paribas, DZ Bank, Erste Group and ING Group went out with initial price thoughts of 70bp area over mid-swaps.

Order books grew as large as €4.6bn, almost 10 times more than the €500m no-grow size of Erste’s deal.

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