1.20% Oct-25 RAGB & 0% Feb-31 RAGB

Austria will come to the market this morning to reopen a total of E1.38bln of originally 10-year RAGBs.

• On offer will be:
  • 1.20% Oct-25 RAGB. ISIN: AT0000A1FAP5.
  • 0% Feb-31 RAGB. ISIN: AT0000A2NW83.
• Auction history:
• The 1.20% Oct-25 RAGB was originally launched via syndication in June 2015, issuing E4.0bln at an average yield of 99.448%. The last reopenings were in 2020, with issuance volumes ranging between E100mln – E250mln, as these were all DIP operations, besides the April 8, 2020 reopening which was an own-quota operation. The most recent two were on June 26, 2020, and April 8, 2020. These reopenings saw E200mln and E250mln nominal issuance. The June 2020 DIP operation allotted E200mln at an -0.528% average yield, whilst the April own-quota operation resulted in no allotment, with an average yield of -0.145%.
• The 0% Feb-31 RAGB was launched via syndication on January 7, 2021, selling E4.0bln at an average yield of -0.331%. The bond has been reopened once this year so far, on January 11 and was reopened ten times last year, with substantially smaller auction sizes ranging between E633-978mln (with between E550-850mln allotted). The most recent January 2022 auction issued E805mln of which E700mln was allotted at a yield of 0.143% and a bid-to-cover of 1.81x (the bid-to-offer was 2.08x). The auction before this was on December 14 2021, with E805mln issued (E700mln allotted) at a -0.156% average yield and 1.91x bid-to-cover (2.20x bid-to-offer).
• Timing: results will be available shortly after the auction closed at 1000 GMT / 1100 CET.