Retail investors look at Austrian buybacks

09 Mar 2012

Retail accounts — an investor base not known for their propensity to taking haircuts — played an important role in Austrian banks’ capital generating buybacks over the past week. Bawag, Erste Bank and Raiffeisen Bank International bought back a combined €1.3bn in deals that closed last Friday (March 2) and on Monday.

Retail and private bank accounts tendered more bonds in the Bawag and RBI transactions than dealer managers had expected. Such investors tend not to mark bonds to market and have less inclination to tender notes below par.

"The retail aspect of the notes was always going to be ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.