Oesterreichische Kontrollbank’s $1.5 Billion Notes Offering

Davis Polk advised the underwriters on an SEC-registered offering on Schedule B by Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) of $1.5 billion 2.875% guaranteed global notes due 2023

Barclays, BofA Merrill Lynch, Citigroup and Goldman Sachs International acted as underwriters.

The notes are guaranteed by the Republic of Austria.

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 included partner Leo Borchardt (Picture) and associate Christopher Diel.


Involved fees earner: Leo Borchardt – Davis Polk & Wardwell; Christopher Diel – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Bank; Bank of America Merrill Lynch; Citigroup Inc.; Goldman Sachs International;



Author: Ambrogio Visconti