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Bond Market

Croatia Tries to Avoid Bail-Out by IMF

The 28th EU member country has severe fiscal problems. In order to avoid the IMF, Croatia borrows about $ 1.5bn on the U.S. market.

October 2, 2013

Poland: Pension Scheme Reform to be Eased

At the beginning of September, Poland´s government decided to re-nationalize the pension system. Now, the government considers relativizing the reform.

September 28, 2013

Austria: Fitch Confirms Triple A

Austria´s main weak point is the banking sector, the rating agency criticizes.

September 28, 2013

Hungary is Seeking New Creditors

The Hungarian public debt agency AKK intends to sell more sovereign bonds in Asia. Compared to other European countries, Hungary´s debt burden causes severe difficulties.

September 27, 2013

RBI Upgrades GDP Growth Forecasts

Economic recovery reshuffles the cards.

September 26, 2013

Croatia to Issue Dollar Bonds

In order to cover its foreign exchange needs, Croatia will issue a dollar bond with a size of $ 2.7bn.

September 24, 2013

Further Nationalizations in Hungary?

In order to acquire further foreign-owned bank and energy companies, Hungary issues new sovereign bonds.

September 23, 2013

Romania: BBB-Rating for State Bonds

Fitch Ratings has assigned Romania's EUR1.5bn bond a 'BBB-' rating

September 18, 2013

Poland: Re-Nationalization of Pension Scheme

Poland takes back the partial privatization of pension system. The re-nationalization does not affect Poland´s sovereign debt rating.

September 7, 2013

Romania to Issue New Bonds

Romania plans to generate at least € 1bn from a second bond issue.

September 6, 2013

Hungary: Another Base Rate Cut

Hungary´s National Bank (MNB) has cut the base rate from 4.00% to 3.80%. This is a new record low. Nevertheless, MNB was expected to decide a lower cut.

August 31, 2013

Erdogan Considers Leaving U.N.

Turkey´s Prime Minister Recep Tayyip Erdogan puts pressure on the United Nations. The representation of the Security Council is not balanced, Erdogan criticizes.

August 26, 2013

Turkey: Capital Outflow Endangers Economic Stability

The monetary and economic stability is under enormous pressure. Turkey´s National Bank does not have sufficient reserve to support the Turkish lira.

August 24, 2013

CESEE Faces Economic Recovery

According to Moody´s, the economic outlook for Central, Eastern and Southeastern Europe is positive. Nevertheless, the recovery is still fragile.

August 24, 2013

Turkish National Bank to Increase Key Rate

In the fight against the downgrade of the Turkish Lira, the Central Bank of the Republic of Turkey (CBRT) has increased the key rate unexpectedly.

August 20, 2013

Wienerberger Facing Losses

H1 results confirm Wienerberger's diversification strategy.

August 20, 2013

Austria: Alpine Creditors Register € 2.29bn

The downfall of construction company Alpine, the biggest bankruptcy in the history of the second Republic, has not been finished yet.

August 19, 2013

Moody’s to Examine Hypo Pfandbriefe

The Aa2-Rating of Pfandbriefe of Hypo Group without governmental guarantee are under observation. This is because of the insecurity of the final decision of the EU Commission about the restructuring plan.

August 1, 2013

Bulgaria: Danger of Policy Drifting

Bulgaria's fundamentals are strong but politics suggest policy drift.

July 31, 2013

Slovenia: Economy to Shrink Despite of Austerity Measures

Slovenian economy expected to contract 2.2 percent in 2013. Prior forecast: -1.9 percent.

July 26, 2013

Alpine Inable to Pay in Mid-2012 Already

Former CFO supposed to have asked Spanish parent company FCC for liquidity assistance in the amount of € 115m, otherwise “we are dead”.

July 24, 2013

Turkey Considers Economic Re-Orientation

The Turkish government wants to shift its economic focus from Europe to Asia.

July 18, 2013

Slovenia: Trying to Make a Difference

The crisis measures approved by Brussels are partially starting to make an impact. Since July 1, the higher tax rate of 22 percent is binding. However, the country does much more than just raise taxes.

July 3, 2013

Crisis in Slovenia Might Take Longer Than Expected

According to the latest economic report by auditing firm Ernst&Young;, the financial crisis in Slovenia will take longer than expected beforehand. However, the country should still be able to avoid international bailout.

July 1, 2013

“Polish Economy Continues to Enjoy Full Trust of Foreign Markets”

Polands Finance Minister is satisfied with the result of the auction of Polish bonds issued earlier this week.

March 23, 2013

Hungary: New Interest Rate Cuts Ahead

Since the beginning of March, Hungary´s National Bank MNB has a new governor. The government wants MNB to lower the base rate further.

March 16, 2013

Lithuania: Cashing in Eurobonds to Decrease Public Debt

The finance ministry of Lithuania declared to having redeemed the second large Eurobond issue today and reduced its public debt by € 1 bn.

March 7, 2013

Romania Tapped Again External Markets

In February, Romania borrowed USD 1.5bn in a 10-year Eurobond. Demand for debt papers was strong, Raiffeisen Research says.

February 22, 2013

S&P Upgrades Austrian Provinces

After the upgrade of Austrian sovereign bonds, the U.S. rating agency amends the outlook for six Austrian provinces from „negative“ to “stable”.

January 31, 2013

S&P Upgrades Austrian Sovereign Bonds

Finance Minister Maria Fekter on Standard and Poor's upgrade: "We are on the right path and our measures are showing results".

January 29, 2013

„Our Future is Central and Eastern Europe“

Andreas Treichl, CEO of Austrian Erste Group, stresses the importance of the CESEE region and the necessity to become more efficient.

January 29, 2013

Telekom Austria Placed a € 600m Hybrid Bond

The Telekom Austria Group announces that, after a successful roadshow in Germany, Great Britain and the Netherlands, it has yesterday placed a hybrid bond with a volume of € 600m and a coupon of 5.625%.

January 25, 2013

Bank Austria Places € 500m Bond

Bank Austria today issued a five-year bond with a volume of EUR 500 million. This was the first euro-denominated senior unsecured benchmark bond from the bank in over seven years, and the first benchmark bond issued this year.

January 24, 2013

Poland: Credit Line Renewed

The IMF guarantees a credit line of € 26bn to the Polish government.

January 19, 2013

Austrians Still Prefer Traditional Investments

According to a survey carried out on behalf of the investment fund Fidelity Worldwide Investment, Austrians tend to conservative investments.

January 14, 2013

Hungarian Government „Do Not Need Help from IMF“

Hungary´s Minister of Economics György Matolcsy argues that his country has never needed a loan from the IMF.

December 22, 2012

Austria´s Budget Deficit to Decrease Slightly

Today, the Austrian National Assembly has resolved the budget for 2013. This year, Austria will not fulfill the Maastricht Criteria.

November 16, 2012

Slovak Bond Yields at Record Low

Erste Group successfully placed € 1.25 bn 12-year benchmark Slovak government Eurobond at record low yield of 3.375%. New issue amassed € 2.1 bn order book across 140 investors.

November 8, 2012

Klaus: Exit Will Not Destroy Eurozone

The Czech President Vaclav Klaus says that a reduction of the member states will not destroy the Eurozone.

September 27, 2012

Czech National Bank Expects More Interest Rate Cuts

The governor of the Czech National Bank Miroslav Singer explained that the monetary easing program will continue.

September 27, 2012

Voestalpine Places a Bond Issue of € 500m

The proceeds are intended for general financing purposes. The bond is predominantly subscribed by international investors

September 26, 2012

Hungary „Still Obtains Funding from the Financial Market“

Vince Szalay-Bobrovniczky, the Hungarian ambassador in Vienna, emphasized that Hungary is not dependent on the IMF loan. The IMF urges Hungary to reduce its bureaucracy, he says.

September 26, 2012

OMV Issues Eurobonds Worth € 1.5bn

OMV raises € 1.5bn in long-dated Eurobonds and announces tender offers for its 2014 Eurobond as well as its 2014 and 2016 Schuldschein loan notes to further extend its debt maturity profile.

September 19, 2012

VBAG Redeems Bonds

The partly nationalized Austrian bank has repaid bonds guaranteed by the Austrian state.

September 14, 2012

Polish Public Debt Quota to Decrease

Although the planned budget deficit will not be met this year, Poland´s Finance Minister Jacek Rostowski expects a declining public debt quota.

September 12, 2012

Slovenia: Juncker Calls for Reforms

The chairman of the euro-group Jean-Claude Juncker warned Slovenia. “The situation is critical, there is no time to lose.”

September 10, 2012

Nowotny Hopes for ESM

The governor of OeNB (Austrian Central Bank) thinks that the bond purchases are not sufficient. Politics must help ECB, he argues.

September 10, 2012

Merkel and Faymann Reaffirm their Commitment to the Euro

The German Federal Chancellor Angela Merkel met her Austrian counterpart Werner Faymann and Vice Chancellor Michael Spindelegger in Vienna. It was Merkel´s first state visit in Austria since 2006.

September 8, 2012

Conwert Buys Back Convertible Bonds

Result of tender offer for convertible bonds due2014.

September 6, 2012

Slovenia „No Problem for Austrian Banks“

Although Austria is the biggest investor in Slovenia, the Austrian banking industry does not fear a national bankruptcy.

September 5, 2012
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