Printer Friendly

Austria : OMV issues hybrid notes in two tranches in an aggregate amount of EUR 1.5 bn.

OMV Aktiengesellschaft issues hybrid notes (subordinated notes without maturity date) in an aggregate amount of EUR 1.5 bn, in two tranches of EUR 750 mn each.

The issue price of tranche 1 amounts to 99.999% and the issue price of tranche 2 to 99.999% as well.

The hybrid notes have no maturity date. Tranche 1 will bear a fixed interest coupon of 5.250% until but excluding December 9, 2021, which is the first call date of tranche 1, and tranche 2 will bear a fixed interest coupon of 6.250% until but excluding December 9, 2025, which is the first call date of tranche 2.

From December 9, 2021, until but excluding December 9, 2025, hybrid notes of tranche 1 will bear interest according to a fixed reset interest rate to be determined according to the relevant 5-year swap rate and an additional margin of 4.942% and, from December 9, 2025, with an additional step-up of 100 basis points.

From December 9, 2025, hybrid notes of tranche 2 will bear interest according to a fixed reset interest rate to be determined according to the relevant 5-year swap rate and an additional margin of 5.409%, with an additional step-up of 100 basis points.

Closing and listing of the hybrid notes on the Regulated Market of the Luxembourg Stock Exchange and on the Regulated Market (Geregelter Freiverkehr) of the Vienna Stock Exchange are intended to take place on or around December 9, 2015.

Due to the high interest from institutional investors the order book for both tranches exceeded in aggregate EUR 4 bn.

[c] 2015 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).

COPYRIGHT 2015 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2015 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Date:Dec 1, 2015
Words:280
Previous Article:Austria : Start of oil production at the Edvard Grieg field in the Norwegian North Sea.
Next Article:Austria : A1 TELEKOM AUSTRIA introduces VoLTE.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters