Austrian Sovereign
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Asfinag, the Austrian state-owned agency that manages the country's motorways, had the euro market to itself on Wednesday. A cheap starting point earned the borrower a huge order book for the €500m bond. -
Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, April 19. The source for secondary trading levels is ICE Data Services.
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Austria took centre stage in the euro sovereign bond market this week with the sale of its first ever four year benchmark alongside a new 50 year deal to complete its curve.
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A pair of European sovereigns hit the market on Tuesday, raising a combined €12.5bn. Austria launched a four and 50 year dual tranche, but it was the short leg that raised eyebrows, demonstrating demand exists even below the ECB deposit rate.
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This week's funding scorecard looks at the progress Europe's supranationals and agencies have made in their funding programmes at the end of March.
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Oesterreichische Kontrollbank (OeKB) debuted its sustainability framework in Norwegian kroner this week. With dollar swap spreads compressed, opportunities are opening for competitive funding in other, more niche markets.
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A pair of sovereigns privately placed century bonds this week, with one of the borrowers — Ireland — dipping below the 1% point for the first time at this sort of tenor.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, February 1. The source for secondary trading levels is ICE Data Services.
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Austria is looking into issuing green bonds, joining a growing list of European sovereigns that have already issued bonds in the format or laid out plans to do so in the near future.
