By Laura Contemori – ROME (Econostream) – Austria’s debt management agency, OeBFA, on Thursday priced a €5.5 billion dual-tranche syndicated transaction comprising a new five-year and a new 15-year benchmark bond, according to a press release from the Republic of Austria.

The transaction was the third and final syndication for 2026, the Republic of Austria said.

The agency issued a new €3.5 billion October 20, 2031 benchmark bond with a 2.85% coupon and a re-offer yield of 2.885%, as well as a new €2 billion September 20, 2041 benchmark bond carrying a 3.55% coupon and a re-offer yield of 3.577%.

It retained €500 million of each tranche, leaving €3.0 billion of the five-year bond and €1.5 billion of the 15-year bond placed with investors.

The re-offer price was 99.837% for the five-year bond and 99.699% for the 15-year bond.

Demand totaled €39.6 billion for the five-year tranche and €47.9 billion for the 15-year tranche, including joint lead manager interest, resulting in a final order book of €87.5 billion.

With an average oversubscription of 19.4 times, this “represents the second-largest combined order book ever achieved for any Austrian government bond transaction in the history of the Republic,” it said.

“[T]he new five-year benchmark represents Austria’s largest-ever order book for a new five-year Austrian government bond. The oversubscription ratio of 13.2x also marked a new record for this maturity, comfortably exceeding the previous high (7.4x in 2019),” it added.

Settlement was scheduled for June 3, 2026.

Barclays, BofA Securities, Deutsche Bank, J.P. Morgan, Nomura and Raiffeisen Bank International acted as joint lead managers.