Austrian Sovereign
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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. -
A pair of sovereign borrowers hit the crowded euro bond market on Wednesday, pulling down a combined €7bn. Public sector issuance is showing no signs of slowing: Wednesday’s borrowers received huge orders.
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Oesterreichische Kontrollbank (OeKB) hit the market on Tuesday for a five year dollar benchmark, raising $1.5bn despite pricing coming through the issuer’s secondary curve.
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The European Union wrapped up its first bond of 2021 under the Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme in style with a quick execution and another impressively sized order book.
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The Austrian treasury will launch a new programme for treasury bills next year, using a schedule of frequent auctions. This will allow it to issue bigger deals to a broader investor pool, as short term funding becomes more important for Austria.
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This week's funding scorecard looks at the progress of Europe's supranationals and agencies in mid-November. Joining the scorecard this week is the European Union, which launched its Support to Mitigate Unemployment Risks in an Emergency (SURE) programme in October.
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It was a moderate week for supply in the primary euro public sector bond market but the issuers that did come found ample demand, setting up a decent backdrop for the expected arrival of the European Union’s big borrowing programme next week.
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Austria built a large order book as it came to the market for its final syndication of the year on Thursday, ahead of the expected arrival of the European Union as a mega borrower next week.
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The Republic of Austria picked banks to lead a new 20 year euro benchmark on Wednesday, while the European Stability Mechanism surprised some market participants by sounding out banks for a deal next week, which could clash with the EU’s grand arrival as a supersized issuer.
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Österreichische Kontrollbank (ÖKB) kept up the strong momentum from European public sector borrowers in the dollar market on Thursday with a well received five year deal which priced through its own curve.
