Capital Markets

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Fitch Confirms Rating for Billion-Euro-Bond

Rating agency Fitch issued a statement concerning the debt repayment stop for state-owned Hypo Alpe Adria bank successor Heta, after Standard & Poor’s did so on Tuesday saying that a discussion concerning the potential haircut for Heta bonds would not affect the rating of Austria directly. Fitch confirmed on Wednesday its rating for Heta bonds with a state guarantee.

Yesterday

Republic of Austria Issues Bonds With a Negative Interest for the First Time Ever

Republic of Austria, for the first time in its history, has issued a federal bond with a negative yield. At today's bond auction a bond with maturity in October 2019 reached an average yield of 0.038 percent. "The auction went very well” the head of ÖBFA, Martha Oberndorfer told APA. The issue was oversubscribed almost three times. .

March 3, 2015

Financial Market Watchdog Sees No Evidence of Balance Sheet Fraud in Heta

At the moment we have no indication of balance sheet frauds, FMA head Klaus Kumpfmüller told the press, commenting on the suddenly increased deficit in the balance sheet of Heta, the successor of Hypo Alpe Adria Bank. He does not exclude the possibility of "figure massaging” in past years, but if it occurred then this would cast a doubt on the accountability of financial auditors.

March 3, 2015

Erste Group Sold Over EUR 1.1 Billion Non-Performing Loans in 2014

In 2014 Erste Group got rid of major packages of non-performing loans. Over the year the bank sold EUR 1.1 billion (USD 1.25 billion) in non-performing loans (2013: EUR 0.7 billion). In the fourth-quarter alone EUR 575.2 million in non-performing loans were sold. The current volume amounts to EUR 10.9 billion.

February 27, 2015

Goldman Sachs Raises Profit Forecasts for Erste Group

Securities experts from US investment bank Goldman Sachs have raised their profit forecasts for Erste Group.

February 27, 2015

EIB Granted Loans Worth EUR 1.5 Billion in Austria in 2014

In 2014 European Investment Bank (EIB) granted a total of EUR 1.5 billion in loans for projects in Austria. In 2013 the volume of granted loans reached EUR 2.4 billion (USD 2.73 billion).

February 26, 2015

Bank Austria: Growth of Austrian Industry Taking its Time

The latest Purchasing Manager index of Bank Austria indicates a decreased growth m/m, although the range of that decrease was less prominent than in previous months.

February 26, 2015

Wienerberger Bricks Suffers EUR 170 Mln Net Loss in FY 2014 on Q4 Impairments

Listed construction materials maker Wienerberger saw its plans for the return to profit in 2014 shatter: the company suffered a heady EUR 170 million net loss last year, as Q4 closed deep in the red on extensive EUR 208 million writeoffs, the company's report out Thursday showed.

February 26, 2015

Valneva Biotech Reduces 2014 EBITDA Loss to EUR 7.4 Mln

Listed vaccine produce Valneva, formerly Intercell, posted a preliminary EUR 7.4 million (USD 8.4 million) EBITDA loss in 2014, better than EUR 11.7 million loss a year earlier, the company said Thursday.

February 26, 2015

Kapsch TrafficCom Still in Red Due to Norwegian Firm and Project Loss

Road toll system provider Kapsch TrafficCom continued its loss-making streak in the first nine months of 2014/15. The net loss per share slipped, however, from EUR 0.40 (USD 0.45) to EUR 0.36. The cause for the continuous negative performance of the firm was due to impairment loss on Kapsch’s Norwegian subsidiary Q-Free ASA made in Q3.

February 25, 2015