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KELAG bond successfully placed on the market
EUR 150 million bond garners high demand from institutional and private investors from the German-speaking countries

  • KELAG was able to successfully place a EUR 150 million bond on the market.

Within two hours, the order book was more than twice oversubscribed, and with roughly 50 individual orders by institutional investors, it exhibited a high level of granularity. Once again, demand from the German-speaking countries dominated, with a total of 97 per cent of orders coming from these markets – 74 per cent of these orders were from Austria and 23 per cent from Germany. The remaining 3 per cent came from Switzerland and 1 per cent from Italy. The allocated nominal value for this bond was split relatively equally between institutional and private investors. Institutional investors made up 53 per cent in total: 25 per cent went to insurance companies, 18 per cent to funds and 10 per cent to banks. The retail and private banking sector accounted for 47 per cent of orders for this bond, with the majority placed in Carinthia. The price of the bond was set at an issue price of 101.416 per cent, and the interest coupon is 3.250 per cent.

Dieter Hengl, the Management Board member responsible for Corporate & Investment Banking at Bank Austria, had this to say: "With the extremely successful placement of this bond from KELAG – a leading Austrian energy company – the current bond year has entered the home straight. Of the 23 corporate bonds placed so far, Bank Austria has provided its expertise to 15, making it the undisputed leader on the capital market. The volume placed by Austrian issuers this year already comes to just under EUR 7 billion, which means that 2012 is the best bond year since 2009. I believe that the issue of corporate bonds will remain attractive – we expect stable high issue volumes of EUR 5 to 10 billion in the coming years as well."

Enquiries: Bank Austria Press Office Austria
Julia Wegenstein, tel. +43 (0) 50505 - 52854
E-mail: julia.wegenstein@unicreditgroup.at

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