OKB's Euro Benchmark Bond with a volume of EUR 1.75bn generated great interest by institutional investors.
The three-year bond was priced at a spread of 23bp over the Austrian government curve.
With a total of EUR 3,6 bn OKB achieved its largest order book ever in the Euro market.
Strong demand from Central Banks and Official Institutions
On March 31, 2020 OKB successfully issued a Euro Benchmark Bond with a volume of EUR 1.75bn. The three-year bond was priced at a spread of 23bp over the Austrian government curve. The coupon was set at 0% and the re-offer price at 100.605%.
The strong global participation from institutional investors allowed the order book to grow above EUR 3.6bn, OKB´s largest order book ever in the Euro market. The bond was placed with Central Banks, Official Institutions, Bank Treasuries and Asset Managers as follows:
- 49% Central banks and official institutions:
- 39% bank treasuries
- 11% asset managers
- 1% others
The issue carries an unconditional and explicit guarantee of the Republic of Austria and is rated Aa1/AA+ by Moody’s and Standard Poor’s respectively. Lead Managers were Bank of America, Deutsche Bank, Erste Group and J.P. Morgen.