Austria adds fresh paper to PPs

LONDON, Dec 17 (IFR) - The Republic of Austria has returned to the private placement market with its third offering of 2019.

The €74.65831m 0% four-year came at -0.513% or 102.09. Austria’s 1.75% Oct 2023s were bid at around -0.5%, according to Refinitiv data. The new note will be listed in Luxembourg.

“A lot of sovereigns are not necessarily comfortable or have no need for private placements, but there are some, like Austria, that can be responsive to investor requests,” said a banker away from the new trade.

Austria has regularly shown a willingness to issue in the MTN market. Three months ago it sold a €50m 0% 100-year, and in February issued a €1.25bn 0% Aug 2022 at 101.219. (Reporting by Edward Clark; editing by Sudip Roy)