Austria

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.

UniCredit Bank AG (HVB) and Hypo Vorarlberg Bank AG are expected to open books on Tuesday for Pfandbriefe in the 15 and eight year tenors. The longer deal follows a series of other long-end trades and may be followed by more, as borrowers take advantage of remarkably strong market conditions to do their most difficult deals.

Santander UK, Sparebank 1 Boligkreditt (Spabol) and Erste Group were able to price flat or through their covered bond curves on Tuesday after stoking up hefty demand for their new issues.

In this round up, the Belt and Road Summit 2019 wrapped up on Saturday with numerous deals, monthly industrial profit increased sharply in March and China reported a small capital outflow.

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.

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.

Moody's has published a new issue report for the mortgage covered bond programme of Raiffeisen Bank International (RBI), assigning the bonds which are expected to be retained for central bank repo' purposes, a rating of Aa1.

A series of modest taps at the long end of the Australian dollar curve at the end of last week suggests that what has been a quiet market for Kangaroo bonds could soon spark into life, according to SSA funding officials.

Strabag has signed bank facilities totalling €2.4bn, the Austrian construction and technology firm becoming the latest borrower to refinance early amid cheap funding conditions.

UniCredit Bank Austria returned to the covered bond market for the second time this year on Wednesday extending its curve with a a new 10 year deal.

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.

Volksbank Wien on Monday became the 12th bank in Austria to issue benchmark covered bonds, selling its debut deal on the back of the highest subscription of any benchmark from the country in over two years.