22/04/2024 18:54 - RSF
Austria starts selling bonds to retail investors
April 22 (Reuters) - Austria launched a new programme to sell bonds to retail investors on Monday, joining a number of European governments looking to cash in on strong demand from individual savers.
The Austrian debt will be available in one-month, 12-month and 10-year maturities for a minimum investment of 100 euros ($106.5).
Austria will also offer retail investors green debt, with the proceeds to help fund environmentally friendly projects including part of the transition to a sustainable energy system.
The tenors of green debt will be either six months or four years and will make Austria the first state to offer such securities for private investors in euros, finance minister Magnus Brunner said in a statement.
Retail demand for European government bonds surged last year from savers seeking better returns than those offered by banks, which lagged the surge in market yields resulting from European Central Bank interest rate hikes.
The Austrian debt will be available for purchase continuously from the country's treasury directly. It will pay fixed interest rates, which will be updated daily, currently ranging from 3.50% on the one-month bond to 2.50% on the 10-year bond, the statement said.