Austrian Sovereign
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Kommuninvest and Oesterreichische Kontrollbank are set to bring deals at the short end of the dollar curve on Tuesday — by which time leads are hoping Monday’s turbulent swap spreads will have calmed.
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Oesterreichische Kontrollbank navigated a tricky dollar market to raise $1bn on Wednesday, as dwindling swap spreads returned to haunt public sector borrowers.
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A European agency is set to bring what will be the first dollar benchmark of the week from a public sector borrower, after mandating banks for a deal on Tuesday.
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A smaller than typical seven year euro benchmark for KfW on Tuesday underlined how difficult execution in euros has become for public sector borrowers.
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A trio of SSA issuers are set to pepper the euro curve on Tuesday, despite waves of volatility engulfing the market over the past few weeks.
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Martha Oberndorfer, managing director at the Austrian Federal Financing Agency in Vienna, has left to run Austrian State and Industrial Holding.
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Austrian oil and gas company OMV came to the euro bond market on Monday for the first time for almost a year, and priced a €750m four year deal.
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Palfinger, the Austrian crane manufacturer, has raised €105m with a Schuldschein issue that included Asian lenders.
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Sappi, the Austrian-South African paper maker, is considering new debt issuance in the coming year, as it seeks to refinance part of its debt and cut interest rate costs.
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Strong domestic support allowed unrated Austrian metals group Voestalpine to increase its seven year euro market return to €400m on Wednesday, despite substantial price tightening.