• OeKB issues its 2nd USD Global transaction of this year
  • With over USD 2.9 bn the order book was almost 3 times oversubscibed.
  • final orderbook included 83 investors from 18 countries
  • spread tightening by 3 basis points during book building to price at SOFR Mid-Swaps +42 basis points

Oversubscribed and high-quality orderbook enables a volume of USD 1 bn at a Treasury spread of 23.5 basis points.

On September 1, 2022, OeKB very successfully issued a 5-year USD Global Bond with a volume of USD 1bn. Despite the ongoing concerns regarding high inflation and further rate hikes by the FED, the market offered an excellent issuing window after the summer break. 

From the outset the issue was met with extremely strong demand by the international investor community and the order book grew to USD 1.8bn overnight. Following the formal opening of books the next morning, the order book continued to grow to USD 2.4 bn. Despite tightening the SOFR (Secured Overnight Financing Rate) Mid Swap spread by 3 bps and setting the spread at +42 bps, the final order book closed in excess of USD 2.9 bn, so was almost 3 times oversubscribed. 

The five-year bond was priced at a spread to Treasuries of 23.5 basis points.

Facts and Figures

  • Coupon:  3.625% 
  • Re-offer price: 99.95%
  • Lead Managers: Barclays, Citigroup, HSBC and JPM
  • Distribution by investor type: Central banks and official institutions 42%, bank treasuries 42% and asset managers 15%, pension funds, insurance and others 1%
  • 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. 

Attractive conditions for Austria's exporters

One of OeKB’s main tasks is to support exporters with loans at attractive financing conditions in cooperation with their banks. OeKB finances these loans by placing bonds with international investors on the capital market. 

All OeKB bonds are guaranteed by the Republic of Austria. This enables OeKB to obtain favourable conditions on the capital market and to pass these on to the exporters. OeKB's long-term financing needs amount to around 4.5 billion euros annually.


All OeKB Bonds at a glance

Please find a comprehensive overview of all OeKB bonds here.
OeKB Bonds Overview