Austria

Oberbank, the Austrian regional lender, has announced the pricing and timetable for its rights issue, intended to raise up to €105.9m to fund its expansion.

RLB Oberösterreich issued its first covered bond benchmark this week attracting the widest ever audience for any Austrian covered bond issuer, burying lingering concerns over long term fallout from Heta.

Semperit, a rubber and plastic goods manufacturer, has come to the Schuldschein market with a uniquely diverse deal; as an Austrian firm issuing to a largely German market, in Polish and US currencies.

After a long supply hiatus a number of other Austrian issuers are likely to be considering a deal, following RLB Oberösterreich’s success on Tuesday. Last September, three Austrian issuers came to market in short succession.

The Austrian bank issued its first benchmark covered bond on Tuesday. The deal was highly oversubscribed even though the final spread offered little concession.

The lender has mandated leads for a triple A-rated €500m no grow covered bond backed by mortgages, its first rated benchmark and the fifth deal from Austria this year.

Rating: —/BBB

Austrian gaming company Novomatic joined a surge of issuance this Tuesday as it issued a €500m no-grow bond that pulled in interest from across Europe.

Buwog, the Austro-German residential property company, added to the recent reemergence of convertible bond issuance on Tuesday, with the sale of a €300m deal, while the Belgian real estate investment trust Cofinimmo also came to market with a €230m deal to buy back bonds due in 2018.

Egger, the Austrian wood-based panel maker, is returning to the Schuldschein market after one year and looking for tighter pricing, according to one banker.

Raiffeisenlandesbank Oberösterreich has mandated joint leads for its first benchmark euro covered bond and the Bank of Queensland has hired leads to explore options for a potential structure.

Raiffeisenlandesbank Oberosterreich has mandated joint leads for its first benchmark euro covered bond.