Erste Group Bank
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Borealis, the Austrian petrochemicals maker, sold its largest corporate bond tranche on Wednesday. The deal came two days after Austrian oil and gas company OMV, which owns more than a third of Borealis, had issued its own dual tranche deal. -
CEZ, a Czech utility company, came to market for four year euros on Tuesday, returning to the currency for its largest deal since 2013.
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Bafin, the German financial regulator, is seriously considering reclassifying Schuldscheine from loans to securities as the market pushes towards digitisation, according to a senior German debt banker. Such a move would have far-reaching consequences on demand for the product, which has allowed the market to blossom over the past two years, writes Silas Brown.
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Erste Group has arranged a Schuldschein via blockchain, through a platform it helped construct alongside Linux Foundation’s Hyperledger Fabric.
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Romania was able to cut the spreads on both tranches of its euro benchmark on Thursday.
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Romania hit screens on Thursday morning for its second dual tranche euro benchmark of the year.
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Hungary printed its €1bn seven year bond on Tuesday with the lowest ever coupon and yield for a dollar or euro bond from the issuer.
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The orderbook for Republic of Hungary’s seven year euro benchmark has blasted past €2bn and leads have tightened price guidance — a move expected by rivals as they said initial talk looked cheap.
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Hungary’s Futureal has signed a €150m 10 year loan, with the real estate developer claiming it’s the largest deal of its kind in the country since the global finance crisis began.
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Erste Group and Caffil found good demand for their covered bonds that were respectively issued in the six and 20 year tenors on Tuesday. But neither deal was straightforward, according to leads, who noted that overnight market volatility had weighed on sentiment.
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Austrian oil and gas company OMV sold the first corporate hybrid deal in four weeks on Tuesday when it sold a €500m perpetual bond with a non-call six year structure which was more than three times subscribed.
