Austria
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The Republic of Austria and the African Development Bank announced new bond transactions on Wednesday which will be used to provide emergency financing in response to the coronavirus outbreak. -
The Reserve Bank of Australia (RBA) and Reserve Bank of New Zealand (RBNZ) acted this week to protect their economies against the effects of the Covid-19 pandemic.
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AMS, the Austrian sensor maker, has launched a Sfr1.75bn (€1.65bn) rights issue, despite volatile equity markets but bankers hope that the attractive entry price and the steady nature of the company itself will be enough to ensure a successful deal, despite difficult equity markets.
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This week's funding scorecard looks at the progress of Europe's supranationals and agencies at the start of March.
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The European Investment Bank and the Province of Quebec were well subscribed as they re-opened the dollar SSA market following the extended Lunar New Year holiday. Two more public sector borrowers will follow with dollar bonds on Wednesday, ahead of what is expected to be a busy month in the currency.
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Austria's new benchmark was over 10 times covered on Wednedsay, making the sovereign the latest in a string of its peers to receive a record order book for a syndicated bond this year.
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Austrian sensor maker AMS said on Tuesday that it intended to sell all its treasury shares, ahead of its looming €1.64bn rights issue to finance its takeover of Osram Licht, the German lighting manufacturer.
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Issuers of additional tier one (AT1) capital have been more than 10 times subscribed for new deals on average in 2020 so far. This week's euro trade from Erste Group was no exception, with the €500m bond attracting €6.25bn of orders and a 'phenomenally tight' coupon.
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Austrian covered bond borrowers Bawag PSK, UniCredit Bank Austria and RLB Oberösterreich found a warm reception for their €500m no-grow deals this week.
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Demand for senior trades from Commerzbank and Raiffeisen Bank International this week reflected a softness in secondary performance, as well as a slowdown in the primary market as European banks enter blackout season.
