Kommunalkredit Austria

Guarantor: Republic of Austria

Rating: Aaa/AAA/AAA

Amount: Eu1bn

Maturity: 8 July 2013

Fixed re-offer price: 99.741%

Coupon: 3.125%

Spread at re-offer: 55bp over mid-swaps

Launched: Thursday 25 June

Payment date: 8 July

Joint books: Bank of America Merrill Lynch, Citi, DZ Bank, UniCredit

Bookrunners’ comment:

There were negative and positive elements for investors — on the negative side ...