• Excellent investor reception with book nearly 3-times oversubscribed.
  • Price tightening by 3 basis points during the book building process to price at SOFR Mid-Swaps +30 basis points. 
  • Final orderbook included more than 100 investors.

Strong demand from high quality institutional accounts for OeKB´s third USD global benchmark issue this year

On October 17, 2023, OeKB very successfully issued a 3-year USD Global Bond with a volume of USD 1bn. Despite a difficult market environment, the USD primary market offered an attractive window for issuing a USD 1 bn no grow transaction.

The issue was met with strong demand from the international investor community and the order book grew consistently over the course of the day. Following the formal opening of books the next morning, the order book continued to grow from USD 1.7 bn to over USD 2.9 bn. despite tightening the SOFR Mid Swap spread by 3 bps and setting the spread at +30 bps.

The coupon was set at 5% and the re-offer price at 99.701%. The three-year bond was priced at a spread to Treasuries of 13.2 basis points.

Lead Managers were Barclays Bank Ireland, BofA Securities Europe SA, JP Morgan SE and TD Global Finance.

Facts and Figures

  • Distribution by investor type: Central banks and official institutions 48.5%, Bank treasuries 34.1%, Asset Managers 10.5% and others 6.9%
  • Distribution by region: Europe 45.9%, Americas 23.8%, Asia 15.7% and Middle East & Africa 14.6%
  • 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 to 5 billion euros annually.


All OeKB Bonds at a glance

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