EGB SYNDICATION: Austria triple-tranche mandate
Oct-18 10:35
"The REPUBLIC OF AUSTRIA has mandated Barclays, BofA Securities, Citi, Goldman Sachs Bank Europe SE, J.P. Morgan and Raiffeisen Bank International to lead manage its new Reg S/144a eligible triple-tranche EUR issue consisting of a new 7yr Benchmark maturing 20 October 2030, a tap of the RAGB 0.250% 10/20/2036 and a €1bn (no-grow) tap of the Green RAGB 1.850% 05/23/2049. The transaction is expected to be launched and priced in the near future, subject to market conditions."
- MNI expect the transaction to take place tomorrow.
- This will be the third Austrian syndication of 2023 (following a single-tranche 10-year in January and a dual tranche 6-year Green / 30-year in April).
- Austria has only held a triple tranche syndication once before - in January 2022.
- We pencil in a total transaction size of E3.5-5.0bln across the three issues.
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EURIBOR OPTIONS: Put fly seller
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ERU4 96.37/96.25/96.12p fly sold at 0.75 in 9.5k
OUTLOOK: Price Signal Summary - USDJPY Bulls Remain In The Driver's Seat
Sep-18 10:32
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STIR: Less Than 90bps of Fed Cuts Priced For 2024
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