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Erste Group Reduces Bondholdings

Published: January 31, 2012; 19:43 · (Vindobona)

The Austrian major bank is said to plan sale of covered bonds.

Erste Group Reduces Bondholdings / Picture: © Erste Group / Helmut Lackner

Erste Group is planning a sale of covered bonds, according to two people with knowledge of the sale. Barclays Capital, Credit Agricole CIB and UniCredit SpA are managing the deal with Erste, Bloomberg reported.

As of 30 September 2011, Erste Group Bank had € 6bn euros in mortgage Pfandbriefe outstanding. This compares to a mortgage cover pool of € 7.7bn. The collateral is…

This article includes a total of 123 words.

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