Belgium raised €8 billion on Wednesday with the issue of a ten-year linear state bond (OLO), reported the country's Debt Agency on Thursday.
The transaction was a great success from the outset and the order book grew to more than €91 billion at closing, prompting the Debt Agency to set the amount of the new issue at €8 billion.
"This is the largest order book for a syndicated OLO to date. With 365 investors participating in this transaction, the Agency has also achieved a record number of participants," the Debt Agency said.
OLO 106 has an annual coupon of 3.40% and was issued at a price of 99.703% – bringing the annual actuarial yield to 3.436%.
The Debt Agency aims to issue a total of €51.60 billion in OLOs this year, or €5.90 billion more than last year due to larger upcoming redemptions. With the new transaction, the agency has already realised more than 15% of this amount.
