Bawag Group
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Burst of deals this year in uneven market suggests investors want alternatives to Treasuries -
◆ Bank keen to diversify funding from euro ◆ Issuer paid a premium over its normal euro rate ◆ Bawag keen to establish a dollar curve with more issuance
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Specialist investors and strong names dominate as issuers stretch out to 15 years
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◆ Austrian bank's first covered in nearly two years ◆ Both tranches offered 5bp of NIP says banker ◆ Modest 3bp tightening reflects 'normalisation' of covered market
