Austria
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Issuer benefits from no-grow label, double-digit starting spread to US Treasuries, and typical 'responsible' execution approach -
◆ NIB brings second dollar deal, prices inside supra peer ◆ OeKB executes carefully designed strategy ◆ Little NIP in either deal
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Textile producer says offering will come no later than February
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◆ Austrian lender's biggest capital deal for more than five years ◆ Higher yielding offering piques investor interest ◆ Return to subordinated green issuance
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◆ Both issuers are linked to RBI Group ◆ Austrian bank prices with negative concession... ◆.... while RBI's Slovakian subsidiary pays premium for its largest deal in many years
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◆ Investors 'hesitant' to buy amid US-Iran talks, lead says ◆ Erste goes alone in euros ◆ Premium debated
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◆ Book shrinks as deal pushes tight ◆ Proceeds could refi upcoming call ◆ Senior retail denoms make defining a senior/sub spread tricky
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Issuer to focus on auctions and foreign currency opportunities including dollars and Swiss francs
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◆ Sovereign gets ahead of uncertainty in H2 ◆ Larger size raised off strong demand ◆ Bigger curve reaction this time neutralised by pricing
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Burst of deals this year in uneven market suggests investors want alternatives to Treasuries
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Issuer now around 77% funded for the year with one dollar deal still to come
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◆ Austrian agency revisits dollar market ◆ Deal priced and sized carefully, all targets achieved ◆ A feast for central bank investors after issuance has plunged
