Erste Group Bank
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Ceske Drahy, the Czech national railway company, hit screens on Thursday announcing a euro benchmark, returning to the bond market for the first time in three years. -
Erste Group priced its inaugural non-preferred senior bond on Wednesday, meeting demand of more than more than four times the deal's €500m size.
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Czech Railways (České dráhy), the 100% state-owned Czech national railway operator, is embarking on a European roadshow for a seven year bond.
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The week started on a green note with ABN Amro issuing its fourth green bond on Monday. It was more than three times subscribed. On Tuesday, Erste Group also enjoyed favourable market conditions with demand at nearly 10 times its final books.
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Erste Group was nearly 10 times subscribed for a €500m five year senior bond on Tuesday, with issuers enjoying extremely favourable conditions in the euro market.
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The Autonomous Community of Madrid has participated in a ‘proof of concept’ Schuldschein transaction on blockchain with BBVA. The loan is also sustainability-linked.
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Rating: Baa3/BBB-/BBB-
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Romania printed a €3bn triple trancher this week, the country’s largest ever euro deal, with one of the three tranches also being the longest ever euro bond from the country.
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Romania has released initial price guidance for its euro triple tranche bond, a deal which is expected to total over €2bn and includes the sovereign’s first ever euro 30 year bond.
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Technology platforms are vying to become the first to close a fully digital Schuldschein offering — without a paper parallel — under German law. But some see the obstacle to progress not behind the beady eyes of the regulator, or the possibilities of technology, but with market participants’ customs.
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French demand outweighed interest from UK accounts in an additional tier one deal for the first time this week when Erste Bank sold a €500m bond that it had first planned nearly a year ago.
