- OeKB issues its first benchmark deal in 2023.
- Large OeKB GBP Orderbook of the highest quality in excess of GBP 590 million
- Strong placement of over 50% with UK accounts
High-quality orderbook for the issuance of OeKB´s first deal of the year with a GBP 450 million benchmark
On January 9, 2023, OeKB successfully issued its first deal of the year with a GBP benchmark with a volume of GBP 450 million. With strong demand of over GBP 590 million, OeKB achieved one of its largest GBP orderbooks. The Gilt spread was set at +86 basis points.
The bulk of the transaction with 53% was placed with institutional investors in the UK, a further portion of 32% went to accounts in Asia and 15% to Europe. 40% of the bonds were allocated to central banks/official institutions while bank treasuries and asset managers each took up 30% of the transaction.
The coupon was set at 4.25% and the re-offer price at 99.91%.
Lead Managers were HSBC, J.P. Morgan and RBC Capital Markets.
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 exportersOne 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 4 to 5 billion euros annually. |
