Austria
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Erste Group has changed the reporting on its cover pool in a move that has effectively resulted in a substantial increase in issuance capacity which other borrowers with limited collateral could mimic. -
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Raiffeisen Bank International (RBI) saw a window to market an additional tier one (AT1) bond on Wednesday, ahead of its second quarter earnings disclosure. It is looking to use the debt to boost its regulatory capital ratios.
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Raiffeisen Bank International is getting ready to sell its third additional tier one (AT1) instrument, as it looks to make full use of its regulatory allowance for subordinated debt capital.
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Australia and New Zealand launched their first syndications of their 2020-21 fiscal years on Monday.
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Immofinanz, the Austrian commercial real estate company, has raised €356m via the sale of new shares and mandatory convertible bonds to strengthen its balance sheet and take advantage of growth opportunities that the Covid-19 global pandemic has created.
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Uniqa Insurance has become the first European insurance company to take advantage of a change in the way in which S&P looks at capital quality, pricing a new short call tier two in euros on Thursday.
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Assicurazioni Generali and Uniqa Insurance are each looking at selling tier two capital from their green bond frameworks, using a quieter period in the new issue markets to explore more complicated and multi-faceted transactions.
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A worsening in credit conditions has squeezed some borrowers across EMEA out of syndicated loans and into the bilateral market. As syndicated loans bankers face another year of disappointing figures, market players are split over whether this trend will leave a more permanent dent in volumes. Mariam Meskin and Jon Hay report.
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Investors flooded the books for Austria’s latest foray into ultra-long debt, with more than €17bn of orders for a bond maturing in 2120 with a yield of only 88bp. But despite the clear appetite for duration, some are concerned that recent, unprecedented monetary stimulus will lead to inflation, writes Lewis McLellan.
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Austria returned to the 100 year part of the curve — a tenor it has made its own — receiving its strongest ever order book for the maturity.
