Austria
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◆ Investors gulp down Heineken's second euro deal in two months ◆ Slim premiums needed ◆ Books fall as LSEG and OMV price tight
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◆ 'Rocking' book over 4.5 times covered ◆ Slim premium leaves room for performance ◆ Austrian undersupply supports demand
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No 'pronounced' pick up to Austrian national champion names expected
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‘Decent run’ for loan deals in Austria and CEE as IG names dominate deals in the pipeline for 2026
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Senior banker joins from EIB
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◆ Higher spread deals from established jurisdictions attract demand ◆ RLB Steiermark returns after more than two years away ◆ No premium needed for CCF's third of 2025
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New funding avenue opened as Vienna-based supra issuer grows
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Issuer will return in 2027, and perhaps next year in small size
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◆ Priced over Austrian govvies ◆ Scarcity and business model help demand ◆ Saskatchewan targets 10 year
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Issuer will focus on PPs and sterling for rest of 2025, pre-funding a possibility
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Loan bankers say deals are being delayed and auto sector can expect restructurings
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Markus Stix explains the sovereign's approach to recent euro syndication