Erste Group Bank
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Erste Asset Management has launched a new fund for EM corporate bonds with shorter maturities, catering for defensive positioning by investors amid rising interest rates. -
Yorkshire Building Society defied concerns around the UK’s decision to leave the European Union this week, issuing a well oversubscribed covered bond that was very broadly distributed and that priced almost flat to its curve.
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Germany’s WL Bank priced a €250m tap of its 10 year mortgage backed Pfandbrief on Thursday, taking advantage of the squeezed market to price flat to its curve. Cheaper French covered bonds have performed well lately and profit taking was seen in the UK sector.
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Three more IPOs reached successful conclusions on Tuesday and Wednesday, including the largest in Poland for over two years.
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Austria's Erste Bank was more than four times oversubscribed for its second additional tier one (AT1) trade on Monday, allowing the issuer to move pricing close to fair value.
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Erste Bank picked banks to arrange its return to the additional tier one (AT1) market on Tuesday, as the Austrian credit looked to capitalise on lower funding costs and renewed appetite for debt from country’s banks.
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Five new IPOs were announced in EMEA this week as the market enters a crucial window in the run-up to Easter.
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Novomatic, the Austria-headquartered gambling company, has syndicated a €1bn five year revolving credit facility as it looks to combine its credit facilities into a single line.
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Polytec Holding, the Austrian plastics firm, is targeting improved terms for a €100m Schuldschein as the market shows no signs of slowing down.
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Novomatic, the Austria headquartered gambling company, is syndicating a five year revolving credit facility this month as it looks to combine its credit facilities in a single line.
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Covered bond deals issued this week by Société Générale and Erste Bank showed that there is still good demand for bonds issued by national champions, even in the more difficult longer tenors.
