OMV Issues Eurobond

Businessn.a. ♦ Published: October 5, 2011; 18:19 ♦ (Vindobona)

The Austrian oil and gas corporation OMV has further extended its average maturity of debt by issuing a Eurobond with a volume of € 500m, a maturity of 10 years and a coupon of 4.25%.

OMV Issues Eurobond / Picture: © Wikimedia Commons / DanielZanetti [CC BY 3.0 (]

OMV is securing its strong liquidity position by extending its oil price and USD hedging strategy into 2012. As a result, the oil and gas corporation priced a Eurobond transaction, which is issued out of OMV's € 3bn Medium Term Note Program (EMTN) - a funding program that allows OMV to issue debt in the Euromarkets on a regular and continuous basis. The bond has a volume of € 500m,…