Austria
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Österreichische Kontrollbank (OeKB), Austria’s export credit agency, will go on roadshow next week to present its recently established sustainability bond framework to European investors. An inaugural bond in the format is expected to follow. -
Erste Group and Crédit Agricole competed for covered bond investors’ attention at the long end of the curve on Wednesday with a rise in yields helping boost demand, particularly for the Austrian deal which started with a generous spread. At the same time Deutsche Hypo issued a three year.
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Deutsche Hypo, Erste Group and Credit Agricole SCF have mandated leads for covered bonds that are all expected to carry negative yields.
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Bawag was looking to launch its first non-preferred senior bond on Wednesday, joining a crowd of other financial institutions targeting sales of senior products in the euro market this week.
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Bawag was keen to alert investors on Tuesday to the imminent sale of its first non-preferred senior bond, which is expected to fit neatly alongside a similar deal from its Austrian peer Erste Group.
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Günter Schubert will take over from Dieter Hengl as head of UniCredit’s corporate and investment bank in Austria.
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Bank of America Merrill Lynch has hired a senior banker from UBS to manage its equity capital markets business in the German-speaking region.
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Austrian agency Asfinag won a big order book on Tuesday, allowing it to price 3bp tighter than guidance, in a 10 year tenor the issuer hasn't accessed since 2009. Municipality Finance and the German federal state of Lower Saxony will add to the euro SSA supply on Wednesday with a 10 year green bond and a seven year benchmark, respectively.
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HTM Sport, the Austrian subsidiary of sports and clothing brand Head, has returned to the Schuldschein market looking for debt in euros and dollars.
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The Republic of Austria received huge investor demand for its five year euro benchmark on Wednesday, despite the bond being priced with a yield below the European Central Bank’s deposit rate. The sovereign also took advantage of the rally in eurozone government bond yields to tap its outstanding century bond for a further €1bn.
