Austria
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The Schuldschein market has just completed what could be its second largest ever deal — for around €1.6bn — in an especially private transaction for Aldi’s Austrian subsidiary, Hofer. -
A healthy pair of benchmarks this week and strong conditions mean the euro market is wide open for a pair of supranationals to bring planned deals next week.
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Marcel Koebeli, the country head of Switzerland at Barclays, has left the bank.
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SSA issuers have come through a battering time in markets to print euro deals, with Austria hitting the long end of the curve and BNG also printing. But the scars are showing as KfW is demonstrating in the dollar market.
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Austria has printed €5bn in a dual tranche issuance, pricing in 10 and 30 year tenors as the sovereign took advantage of a window of opportunity arising from a rally in global equities.
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Austria is to print a 10 year benchmark as investor sentiment rebounded after a torrid time last week as BNG priced a seven year bond.
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Hypo Tirol overcame lingering concerns in the aftermath of the Heta Asset Resolution debacle to issue an oversubscribed and relatively well distributed five year Pfandbrief on Thursday.
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Hypo Tirol was never expected to be an easy trade given lingering concerns about Austria’s smaller banks and the aftermath of the Heta Asset Resolution debacle. So it was a relief when, on Thursday, the issuer managed to attract an oversubscribed and relatively well distributed order book for its €500m five year mortgage-backed covered bond.
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Swiss franc investors made the most of a rare opportunity to buy Austrian sub-sovereign paper on Thursday when Land Niederoesterreich (Lower Austria) tapped its April 2021 and September 2023 bonds.
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Austrian engineering and construction group Strabag has refinanced the €2.4bn of loans it signed in 2014 — a record size for an Austrian corporate borrower — with no changes to the banking group.
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Austrian parking facilities developer Best in Parking walked into a frozen bond market on Tuesday with a €90m unrated bond, that was a tougher than expected sell to its domestic investor base.
