Davis Polk advised Barclays Bank PLC, Citibank Global Markets Inc., Deutsche Bank AG, London Branch, and J.P. Morgan Securities plc as joint lead managers on an SEC-registered offering on Schedule B by Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) of $1 billion 2.375% notes due 2021. The notes are guaranteed by the Republic of Austria.  

OeKB is primarily engaged in export financing. It administrates the Republic’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 John Banes and associates Leo Borchardt and Lorenzo Togni. All members of the Davis Polk team are based in the London office.