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RZB issues bond guaranteed by Austria

Autor: Bancherul.ro
2009-01-30 07:49

Raiffeisen Zentralbank �sterreich AG (RZB) has successfully issued its first benchmark issue in 2009 with a volume of 1.5 billion euros, said the bank in a press release.

This fixed-rate bond is guaranteed by the Republic of Austria with a tenor of five years. The price of the issue was fixed at Mid-Swaps plus 68 basis points, paying an annual coupon of 3.625 per cent.

RZB�s bond issue met broad interest amongst investors the world over. The issuing syndicate consisted of RZB, Citigroup, Deutsche Bank and HSBC. The lion�s share of demand was concentrated in Germany, Austria and the United Kingdom. The syndicate further achieved a 32 per cent allocation to fund managers which is an outstanding level of participation for Austrian government guaranteed debt.

The bond is an attractive investment, as it offers the safety of a government bond, combined with a yield premium.

Along with RZB, pursuant to section 1 (4) of the Interbank Market Support Act (Interbankmarktst�rkungsgesetz, IBSG), the Republic of Austria shall assume liability for the issues of securities by credit institutions pursuant to section 1 (1) 10 of the Austrian Banking Act (BWG). The bond is rated AAA/Aaa (S&P/Moody�s).

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