- OeKB´s issues its first benchmark deal in 2025
- Decent orderbook of the highest quality
- Strong placement of 75% with UK accounts
Solid investor demand for OeKB´s first deal of the year
On January 7, 2025, OeKB successfully issued its first deal of the year with a GBP benchmark with a volume of GBP 500 million. The order book for this transaction was of the highest quality. The transaction was priced at Sonia Mid Swaps +46 basis points which is equivalent to a Gilt spread of +26.3 bps.
The bulk of the transaction with 75% was placed with institutional investors in the UK, a further portion of 15% went to accounts in Asia and 10% to Europe ex UK.
65% of the bonds were allocated to bank treasuries/banks while central banks/official institutions took up 28% and fund managers 7% of the transaction.
The coupon was set at 4.50% and the re-offer price at 99.723%.
Lead Managers were Barclays Bank Ireland PLC, BofA Securities and HSBC Bank plc.
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 around 6 billion euros annually. |
