Austria

Raiffeisenlandesbank Niederoesterreich-Wien AG’s public sector backed covered bond programme has been rated Aaa with Moody’s.

Hypo Oberösterreich’s first transaction issued from its newly set up covered bond programme was exceptionally well received, despite its small size and lower than average rating.

The Austrian lender’s first transaction issued off its newly set up covered bond programme was exceptionally well received, despite its small size and lower than average rating.

Berlin Hyp issued a €175m tap on Wednesday after it emerged that Crédit Agricole would not be proceeding with its previously announced 10 year. Meanwhile, Hypo Oberoesterreich signalled its intention to press ahead with its debut covered bond.

Bawag PSK became the first bank to print a senior unsecured note offering a negative yield in Swiss market history this Wednesday. Swiss bankers wonder how the small A3 rated Austrian borrower managed to sneak into the record books.

The Kangaroo market has faced a variety of challenges but, for each challenge, it has evolved to provide new pockets of value for investors and to meet borrowers’ requirements as they respond to the constantly shifting market realities. By Lewis McLellan.

Oberösterreichische Landesbank (OÖ LB) has mandated joint leads for a sub-benchmark sized euro covered bond with an intermediate to long maturity.

Swiss investors, who have shunned Austrian bank bonds for three years, have suddenly changed their minds and bought three deals in the last few weeks, with Bawag PSK the latest. An end to the wrangling over the resolution of Hypo Alpe Adria has been helpful, writes Silas Brown.

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.