EUR 1bn tap of the Green RAGB 2.90% due 23 May 2029

The Republic of Austria today successfully priced a new EUR 3.5bn dual-tranchetransaction comprising a new EUR 2.5bn 30-year benchmark due 20 March 2056 and a EUR 1bn tap of the Green RAGB 2.90% due 23 May 2029. Citigroup, Deutsche Bank, HSBC, J.P. Morgan, Morgan Stanley and Raiffeisen Bank International were acting asJoint-Lead Managers. The remaining primary dealers of the Republic of Austria were invited to participate as Co-Lead managers.

On Monday, 2 March 2026, the Austrian Treasury decided to move ahead with theirsecond syndication of the new year. The mandate for a dual-tranche transaction was announced at 12:43pm CET. After assessing the market open and having received significant interest from investors by Tuesday morning, 3 March 2026, the Republic opened books at 08:59am CET with guidance of MS-2bps area for the Green 2029 tap and RAGB 3.150% 2053+7bps area for the new 30-year conventional benchmark bond. 

Austria’s strong credit quality, paired with its well-established green holistic fundingprogram, ensured robust investor demand from the onset in both tranches, with books standing in excess of EUR 9bn (including EUR 550m JLM interest) on the Green 2029 tap and over EUR 50bn (including EUR 3.25bn JLM interest) on the 30-year benchmark by 10:28am CET. On the back of the strong reception, final spread was set at MS-4bps for the Green 2029 tap and RAGB 3.150% 2053+4bps for the 30-year benchmark (2bps and 3bps tighter, respectively). Decision was also taken to fix the final issue size at EUR 1bn (no retention) for the Green 2029 tap and at EUR 2.5bn (no retention) for the new 30-year.

For more information please refer to the attached report.