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10/25-year RAGBs

AUSTRIA AUCTION PREVIEW
  • Austria will come to the market this morning to offer E1.495bln 10/25-year RAGBs. On offer will be:
    • 0.90% Feb-32 RAGB (ISIN: AT0000A2WSC8)
    • 1.50% Feb-47 RAGB (ISIN: AT0000A1K9F1)
  • This will be the first auction of the 0.90% Feb-32 new 10-year benchmark after it was launched via syndication for E4.5bln (E4.0bln allotted) with books of E26bln. The auction history of the previous 10-year benchmark, the 0% Feb-31 RAGB is below.
  • The 1.50% Feb-47 RAGB has not been reopened since 4 May 2021 when E690mln was sold (E600mln allotted) with a bid-to-cover of 1.41x and bid-to-offer of 1.63x.
  • Timing: Results will be available shortly after the auction closes at 10:00 BST / 11:30 CEST.

Auction history of previous 10-year RAGB, 0% Feb-31 RAGB.

IssuedAllottedAvg yieldBid/coverBid/offerPricePre-auctOperation
Last 5 aveE702mlnE610mln0.047%1.96x2.26x
08-Mar-22E575mlnE500mln0.426%1.81x2.08x96.2796.01Auction
11-Jan-22E805mlnE700mln0.143%1.81x2.08x98.7198.46Auction
14-Dec-21E805mlnE700mln-0.156%1.91x2.20x101.45101.13Auction
05-Oct-21E633mlnE550mln-0.031%2.52x2.90x100.2999.96Auction
07-Sep-21E690mlnE600mln-0.146%1.76x2.02x101.39101.11Auction

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