- Orderbook of excellent quality in excess of GBP 320 million
- Strong placement of 93% with UK accounts
- With this GBP benchmark bond OeKB has in total raised GBP 1,2 bn year-to-date, its strongest yearly issuance in the Sterling Market ever.
Strong investor demand for OeKB´s 3rd GBP outing of the year
On August 19, 2024, OeKB extended its outstanding Sterling curve by successfully issuing its 3rd GBP benchmark deal of the year with a volume of GBP 300 million and a June 2029 maturity.
The deal was announced as a GBP 300 million benchmark transaction. With an attractive Spread over Sterling Midswaps of 34 basis points the bond was particularly aimed at UK bank Treasuries and Asset Managers, and also provided attractive funding for OeKB. The equivalent Gilt spread was +26 bps.
With 93% the bulk of the transaction was placed with institutional investors in the UK, a further portion of 5% went to accounts in Europe and 2% were placed in the Middle East.
71% of the bonds were allocated to bank treasuries while asset managers took up 26% with the remaining 3% placed with central banks and official institutions.
The coupon was set at 4.000% and the re-offer price at 99.929%.
Lead Managers were BofA Securities Europe SA, JP Morgan SE and TD Securities .
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 5 to 6 billion euros annually. |
