Austria 112 EuroWeek Financing supranationals and agencies Oesterreichische Kontrollbank AG (OeKB) Rating Aaa, AAA, NR Source: OeKB Central banks/ official institutions 75% Asset managers 11% Banks 9% Corporates and others 5% INVESTOR BASE BY CATEGORY $1BN 3YR JAN 2011 Waltraut Burghardt Senior director, international finance Anton Ebner Director, international finance Anish Gupta Associate director, international finance Maximilian Plattner Senior manager, international finance Monika Seitelberger Associate director, international finance KEY OFFICIALS Data at December 31, 2010. Source: OeKB USD global issues 35% EUR/euroshelf 22.2% MTNs/ euroshelf 5.6% CHF issues 17.2% Samurai issues 2% Deposit market 5% ECP 9% OUTSTANDING ISSUANCE BY TYPE Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) is Austria’s main provider of financial and information services to the export industry and the capital market. Founded in 1946 to support the Austrian economy, OeKB offers a wide range of specialised services to companies in all sectors, including financial institutions and Austrian government agencies. OeKB acts as a central hub in the markets, operating impartially and in accordance with its sustainability policy. Its shareholders are Austrian commercial banks. OVERVIEW Minimum size: $20m Currencies: multi Structures: plain vanilla and lightly structured MTNs (such as callables) PRIVATE PLACEMENT POLICY Risk weighting (Basel II): 0% Guarantee: explicit, unconditional, direct and full guarantee of the Republic of Austria. RISK WEIGHTING GUARANTEE Data at December 31, 2010. Source: OeKB € bn 0 1 2 3 4 5 6 2011 2012 2013 2014 2015 2016 2017+ DEBT MATURITY PROFILE Data at December 31, 2010. Source: OeKB USD 48% EUR 29% CHF 17% JPY 2% GBP 3% Other 1% OUTSTANDING ISSUANCE BY CURRENCY Syndicated benchmark bonds, private placements (amounting to around 15-20% of total issuance) ISSUANCE METHODS Source: OeKB € bn 0 2 4 6 8 10 2005 2006 2007 2008 2009 2010 DEBT ISSUANCE Target Eu3-4bn Benchmark deals in USD or EUR, CHF issues, inaugural AUD Kangaroo issue, MTN issuance or private placements FUNDING PROGRAMME 2011 Source: OeKB Asia 25% Middle East/ Africa 37% Europe 17% Americas 21% INVESTOR BASE BY REGION $1BN 3YR JAN 2011
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Austria Oesterreichische Kontrollbank AG (OeKB) · sustainability policy. Its shareholders are Austrian commercial banks. overvIeW Minimum size: $20m ... 6 Credit Suisse 201 1 7.05
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Austria
112 EuroWeek Financing supranationals and agencies
Oesterreichische Kontrollbank AG (OeKB)Rating Aaa, AAA, NR
Source: OeKB
Central banks/ official
institutions 75%
Asset managers
11%
Banks 9%
Corporates and others 5%
Investor base by category$1bn 3yr Jan 2011
Waltraut burghardtSenior director, international finance
anton ebnerDirector, international finance
anish gupta Associate director, international finance
Maximilian Plattner Senior manager, international finance
Monika seitelbergerAssociate director, international finance
Key offIcIals
Data at December 31, 2010. Source: OeKB
USDglobalissues35%
EUR/euroshelf 22.2%
MTNs/ euroshelf
5.6%
CHFissues 17.2%
Samurai issues 2%
Deposit market 5% ECP
9%
outstandIng Issuance by tyPe
Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) is Austria’s main provider of financial and information services to the export industry and the capital market. Founded in 1946 to support the Austrian economy, OeKB offers a wide range of specialised services to companies in all sectors, including financial institutions and Austrian government agencies.
OeKB acts as a central hub in the markets, operating impartially and in accordance with its sustainability policy. Its shareholders are Austrian commercial banks.
overvIeW
Minimum size: $20mcurrencies: multi structures: plain vanilla and lightly structured MTNs (such as callables)
PrIvate PlaceMent PolIcy
risk weighting (Basel II): 0%guarantee: explicit, unconditional, direct and full guarantee of the Republic of Austria.
rIsK WeIghtIng guarantee
Data at December 31, 2010. Source: OeKB
€ bn
0
1
2
3
4
5
6
2011
2012
2013
2014
2015
2016
2017+
debt MaturIty ProfIle
Data at December 31, 2010. Source: OeKB
USD 48%
EUR 29%
CHF 17%
JPY 2%
GBP 3%
Other 1%
outstandIng Issuance by currency
Syndicated benchmark bonds, private placements (amounting to around 15-20% of total issuance)
Issuance MethodsSource: OeKB
€ bn
0
2
4
6
8
10
2005
2006
2007
2008
2009
2010
debt Issuance
Target Eu3-4bnBenchmark deals in USD or EUR, CHF issues, inaugural AUD Kangaroo issue, MTN issuance or private placements
fundIng PrograMMe 2011
Source: OeKB
Asia 25%
Middle East/ Africa 37%
Europe 17%
Americas 21%
Investor base by regIon$1bn 3yr Jan 2011
Austria
Financing supranationals and agencies EuroWeek 113
Pricing date February 16, 2011
value A$350m
Maturity date February 23, 2016
coupon 6.25%
spread to benchmark 84.5bp over ACGB
bookrunners Commonwealth Bank of Australia, RBC Capital Markets, UBS
Pricing date January 13, 2011
value $1bn
Maturity date January 21, 2014
coupon 1.375%
spread to swaps 18bp
bookrunners Goldman Sachs, JPMorgan, UBS
Pricing date September 27, 2010
value $1bn
Maturity date October 5, 2015
coupon 1.75%
spread to swaps 25bp
bookrunners Deutsche Bank, Goldman Sachs, HSBC
Source: Dealogic
recent deals
rank lead Manager amount $m no of Issues
% share
1 Goldman Sachs 665 2 23.36
2 UBS 649 3 22.82
3 HSBC 333 1 11.69
3 Deutsche Bank 333 1 11.69
5 JPMorgan 332 1 11.66
6 Credit Suisse 201 1 7.05
7RBC Capital Markets
117 1 4.1
7Commonwealth Bank of Australia
117 1 4.1
9 BNP Paribas 100 1 3.51
subtotal 2,846 5 100
total 2,846 5 100
Source: Dealogic (March 16, 2010 to March 15, 2011)
toP booKrunners
*Estimate. Source: OeKB
%
0 5
10 15 20 25 30 35 40 45
2005 2006
2007
2008 2009
2010*
total assets
CABET-Holding Aktiengesellschaft, Vienna (UniCredit Bank Austria Group) 24.75%
UniCredit Bank Austria AG, Vienna 16.14%
Erste Bank der oesterreichischen Sparkassen AG, Vienna 12.89%
Schoellerbank Aktiengesellschaft, Vienna 8.26%
AVZ Finanz-Holding GmbH, Vienna 8.25%
Raiffeisen Zentralbank Österreich Aktiengesellschaft, Vienna 8.12%
BAWAG PSK. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft, Vienna 5.09%