The bank rejuvenates its floating rate bonds offering as it makes the most of the increase in the yield curve.
Erste Group Bank has issued Sommerfloater 23-28 in Austria. The five-year structured bond is 100% capital-protected and offers a variable coupon (paid quarterly) equal to the three-month Euribor – floored at a minimum of 3% pa and capped at 5.10% pa. The product struck on 30 June, and with a minimum subscription of €50,000 it is targeted at private banking and wealth management clients. Erste started issuing plain vanilla fixed income bonds last year to accommodate investors lookin