Austria
-
The vibrant activity in the equity block trade market this week is continuing tonight, with three more selldowns of stock in European companies, including the last sale of stock in Worldpay, the UK payments group, by Advent International and Bain Capital, for about £600m.
-
Porr, the unrated Austrian construction company, on Monday priced the first European corporate hybrid bond this year at the tight end of guidance. -
-
One of the busiest days ever in the public sector dollar market ended with five issuers sitting on deals printed at the top end of their size targets and with pricing tightened from initial thoughts. Another borrower is already out for Thursday business and bankers predict that conditions are so “incredible” that deal flow will stay healthy into next week — no matter what policy statements incoming US president Donald Trump makes at his inauguration on Friday.
-
A quartet of public sector borrowers are set to cram into the front end of the dollar curve on Wednesday, as bankers outlined a triple whammy of factors driving the squeeze.
-
Novomatic, the Austria headquartered gambling company, is syndicating a five year revolving credit facility this month as it looks to combine its credit facilities in a single line.
-
Crédit Agricole has pulled out of the primary dealerships of three countries, the latest bank to scale down the number of countries in which it is active as a PD. It is unlikely to the be the last this year, according to a GlobalCapital poll of DCM heads.
-
Immofinanz, the Austrian property company, issued a €300m convertible bond in an evening bookbuild on Thursday night, alongside an incentivised early conversion of its €515m CB that matures in March 2018.
-
Covered bond deals issued this week by Société Générale and Erste Bank showed that there is still good demand for bonds issued by national champions, even in the more difficult longer tenors.
-
Ten year Pfandbrief €500m deals issued this week by NordLB and Bawag were narrowly oversubscribed even with the support of the Eurosystem.
-
Société Générale SFH was set to issue a well oversubscribed mortgage backed seven year bond on Wednesday as Bawag shouldered a frostier reception for its public sector loan backed Austrian 10 year.
-
Erste Bank adopted a cautious pricing approach with its €750m 10 year Austrian Pfandbrief, which was priced on Tuesday when there was no other competing covered bond supply.
