Commentary & Deal Flow

5yr: Final Books in excess of €39bn (incl. €2.35bn JLM). Peak book in excess of €40bn.
15yr: Final Books in excess of €47bn (incl. €2.6bn JLM). Peak book in excess of €48bn.

Launched:
5yr: €3.5bn @ MS+4bp - Orderbook closed in excess of €40bn (incl. €2.35bn JLM)
15yr: €2bn @ MS+38bp - Orderbook closed in excess of €48bn (incl. €2.6bn JLM)
Spread set at: 5yr: MS+4bp - Orderbook in excess of €33bn (incl. €850m JLM) 15yr: MS+38bp - Orderbook in excess of €37bn (incl. €1.25bn JLM)
Guidance: 5yr: MS+7a 15yr: MS+40a

• Issuer: Republic of Austria
• Ratings: AA+/Aa1/AA/AAA/AA+ (S&P/Moody's/Fitch/DBRS/Scope)
• Format: Reg S, Bearer, 144A eligible, CAC
• Settlement: 03-Jun-26 (T+4)
• Maturity:
• • 5yr: 20-Oct-31
  • 15yr: 20-Sep-41
• Size:
• • 5yr: €3.5bn (including €500m issuer retention)
  • 15yr: €2bn (including €500m issuer retention)
• Coupon:
• • 5yr: Fixed, Ann., ACT/ACT
  • 15yr: Fixed, Ann., ACT/ACT
• First coupon:
• • 5yr: Short first on 20-Oct-26
  • 15yr: Short first on 20-Sep-26
• Benchmark:
• • 5yr: HR 109% vs OBL 2 ½ 31 #193
  • 15yr: HR 105% vs DBR 2.6 41 TWIN
• Denoms: €100
• ISIN:
• • 5yr: AT0000A3V200
  • 15yr: AT0000A3V234
• Listing/Law: Vienna Stock Exchange’s Regulated Market / Austrian Law
• Docs: Government Bonds Debt Issuance Programme
• Bookrunners: Barclays, BofA, Deutsche Bank(DM/B&D), J.P. Morgan, Nomura, Raiffeisen Bank International
• Timing: Books open, today's business
• Books Subject: Orderbooks to close 11.00CET / 10.00 LDN
• Hedge Deadline: 12.45UKT/13.45CET
• MiFID II: Retail / Professional / Eligible Counterparties (all distribution channels)