Commentary & Deal Flow

Asfinag (Autobahnen- und Schnellstraßen-Finanzierungs-Aktiengesellschaft), 100% owned and explicitly and unconditionally guaranteed by the Republic of Austria, rated Aa1 (negative)/ AA+ (stable) by Moody's / S&P, has mandated Danske Bank, Morgan Stanley, Societe Generale and UniCredit to lead manage its upcoming 5yr EUR 500m (no-grow) Fixed Rate Reg S Bearer benchmark transaction.

An expected €500m (no-grow), Reg S Bearer, senior unsecured 5yr EUR offering will follow, subject to market conditions.

• Issuer: Asfinag (Autobahnen- und Schnellstraßen-Finanzierungs-Aktiengesellschaft)
• Ratings: Aa1 (negative)/ AA+ (stable) (Moody's/S&P)
• Ownership: 100% owned and explicitly and unconditionally guaranteed by the Republic of Austria
• Bookrunners: Danske Bank, Morgan Stanley, Societe Generale and UniCredit
• Format: Reg S Bearer
• Size: €500m (no-grow)
• Tenor: 5yr
• Type: Fixed Rate
• Target Market: Eligible counterparties and professional clients only (all channels for distribution), each as defined in MiFID II and UK MiFIR
• Stabilisation: FCA/ICMA Stabilisation