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New Feb-31 RAGB syndication

AUSTRIA AUCTION PREVIEW
  • Austria will come to the market today to launch a new benchmark 10-year RAGB, maturing Feb-31. This is the first of 3-4 syndications planned by Austria for 2021.
  • This will be the fourth year in a row that Austria has launched its new 10-year benchmark in January. In the previous three years the sizes have been set at E4.0bln in 2018, E5.0bln in 2019 and E3.25bln in 2020.
  • Books in the last 10-year syndication in January 2020 were in excess of E30bln.
  • In addition in 2020, Austria also held syndicated launches of a dual-tranche 3/30-year in March, a 100-year in June and a 20-year in October.
  • Pricing timings: The January and October syndications priced around 14:40, the June syndication around 15:20 and the March dual-tranche around 16:15. All times are UK.

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