Oesterreichische Kontrollbank’s $1.5 Billion Guaranteed Global Notes Offering

Davis Polk advised the underwriters on the offering.

Oesterreichische Kontrollbank Aktiengesellschaft executed the offering on Schedule B of its $1.5 billion 0.375% guaranteed global notes due 2025. The notes are guaranteed by the Republic of Austria.

Barclays Bank PLC, Citigroup Global Markets Limited, HSBC Bank plc and RBC Capital Markets, LLC acted as Underwriters for the offering.

OeKB is primarily engaged in export financing. It administrates the Republic of Austria’s guarantees covering commercial, political and foreign exchange risks in connection with Austrian exports and also provides medium- and long-term financing to banks and foreign importers for Austrian export transactions.

The Davis Polk corporate team advising underwriters included partner Leo Borchardt (Picture) and associates Christopher Diel and Saratu M. Kitchener. European counsel John Taylor provided U.K. law advice.

Involved fees earner: Leo Borchardt – Davis Polk & Wardwell; Christopher Diel – Davis Polk & Wardwell; Saratu Kitchener – Davis Polk & Wardwell; John Taylor – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Bank; Citigroup Global Markets Ltd; Hsbc Bank plc; RBC Capital Markets;