Austria

Knorr-Bremse, Grenke and Voestalpine market new trades after 50bp move

◆ Big five year book for sovereign ◆ Fourth syndicated transaction "not required" ◆ Pricing didn't work for ultra-long dated tap

◆ Last dollar benchmark of 2024 is a five year ◆ Spread tightened despite tight start ◆ ‘Very strong print’ at a ‘carefully chosen spot’

◆ Lower tier issuer to offer subordinated paper after major FIG issuers print ◆ Aims to increase capital with a second deal this year ◆ Allianz aims for broad demand with dollar tier two

Banker returns to debt capital markets after three years at Origin Markets

A three or five year benchmark is expected as agency enters autumn 80% funded

◆ Austrian lender nearly four times covered ◆ Bankers question whether the deal started wide despite double digit tightening

Novotny-Farkas is understood to be joining another bank in Germany with similar responsibilities

◆ DZ Hyp to sell short green deal ◆ Raiffeisen Bausparkasse readies debut ◆ Recent deals tighten against improving backdrop

Barclays has scooped ex-Morgan Stanley banker to lead its business in Germany, Austria and Switzerland

Austria, France and Portugal opt for the same window

No premium was needed due to a late influx of strong demand