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Crédit Agricole CIB joint bookrunner of mortgage covered bond for Erste Group Bank AG in Austria
On 13th January 2011, Erste Group Bank successfully launched a EUR 1 billion benchmark mortgage covered bond with a 10-year maturity.
Crédit Agricole CIB, Barclays, DZ Bank and Erste Group Bank acted as joint bookrunners for this transaction.
This transaction was not only the first Austrian covered bond of the year but also the first 10-year mortgage cover bond ever issued out of Austria. The timing of the transaction, the strong name recognition of Erste Group Bank and the solid 100 % Austrian/German mortgage cover pool contributed to the success of the transaction.
Erste Group was founded in 1819 as the first Austrian savings bank. Today, Erste Group is one of the largest financial services providers in Central and Eastern Europe in terms of clients and total assets.