20.01.2025
  • Large order book of the highest quality with a total volume of over USD 2.1 billion
  • Price tightening by 2 basis points during book building process to price at SOFR Mid-Swaps +43 basis points
  • Final orderbook included over 60 investors.

Strong investor demand for OeKB´s 1st USD Global benchmark in 2025

On January 16, 2025, OeKB very successfully issued its first USD Global benchmark of the year with a 5-year maturity and a volume of USD 1.25 bn. Despite the ongoing geopolitical turbulences, the primary market for issuers of the highest quality was very constructive since the beginning of the year. Although an array of Sovereign/Supra/Agency issuers continued to access the market in the 5-year maturity spectrum, the week of January 13 offered OeKB an ideal issuing window.

The issue was met with exceptionally strong demand from the high-quality international investor community. Following the formal opening of books the next morning, the order book stood at over USD 1.5 bn and continued to grow with high quality investors placing their orders into the book. Despite tightening the SOFR Mid Swap spread by 2 basis points and setting the spread at +43 bps, the final order book closed in excess of USD 2.1 bn. The five-year bond was priced at a spread to US Treasuries of 14.4 basis points.

The coupon was set at 4.5% and the re-offer price at 99.518%. 

Facts & Figures

  • Lead Managers: Citigroup Global Markets Europe AG, J.P. Morgan SE, RBC Capital Markets und TD Securities.
  • Distribution by investor type: Banks & Bank Treasuries 48%, Central banks und Official Institutions 41%, Asset Managers 10% and Other 1%
  • Distribution by region: Americas 56%, Europe 34%, Asia 9%, Middle-East/Africa 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 6 billion euros annually.

 

All OeKB Bonds at a glance

Find a comprehensive overview of all OeKB bonds here.
OeKB Bonds Overview