Erste Group Bank

◆ Issuer chose larger order size ◆ Strong supply of five year covereds cited ◆ Seventh German covered in three weeks

Hungary's change of government is still drawing in investors despite a difficult summer

◆ Spreads tightened on eight and 12 year tranches ◆ Banker had issuer paying 2bp NIP on both legs ◆ ING’s second covered deal of 2026

◆ Public sector label helped with execution ◆ Order book included large block from a central bank ◆ Banker said small concessions was paid

◆ Issuer paid small new issue concession, says banker ◆ Eika's first covered since May 2025 ◆ Nordic issuers may be 'done for now'

◆ Czech bank's first issue since May ◆ Mandate announcement yielded 'decent feedback' ◆ CEE issuers active in covereds this year

◆ Rising investor sensitivity due to tight unsecured FIG spreads ◆ Deal centred around real money orders after hitting €4.5bn peak book ◆ Hardly any concession left on shorter tranche, minimal on longer one

◆ CFF tightened spread by 6bp ◆ CFF and Hypo Vorarlberg Bank paid small concessions ◆ NN Bank attracted largest order book of the day

◆ German issuer showed little order book attrition ◆ UniCredit shared primary market with four others ◆ Market set to slow after a fast start

Textile producer says offering will come no later than February

◆ Intesa Sanpaolo's Slovakian arm is a frequent issuer ◆ Banker said 33bp could be through FV ◆ CEE covereds offer the widest spread, ABN wrote

◆ Highest over-subscription rate of Monday's covered deals ◆ Fourth tranche from a Swedish issuer this year ◆ No grow format helped tighten spread