The segment bond market contains all bonds that have been admitted to listing on the Official Market or admitted to trading in the Vienna MTF. These are government bonds, federal treasury certificates, treasury notes, interest rate and government strips, corporate bonds, banking bonds and convertible bonds.
Details about continuously traded bonds
The public sector segment contains all debt securities issued by government bodies or that have a guarantee from the public sector: Austrian federal government bonds, Austrian Treasury bills (ATBs), bonds issued by provincial governments, bonds issued by other states or ASFiNAG and ÖBB Infrastruktur AG.
The segment corporate sector contains bonds, that are issued by companies for the purpose of financing corporate activities (bonds issued by banks are, by definition, not classified as corporate bonds.). Debt financing through the capital market continues to play a mayor role in Austria, since 2001 the issued volume for corporate bonds has increased substantially.
List of all currently listed corporate bonds and new issues since 2001
The corporate sector is divided into the corporates prime segment and the corporates standard segment.
- corporates prime
Issuers whose bonds are assigned to the corporates prime segment enter into a contract under which they agree to comply with transparency, quality and disclosure criteria that are more stringent than the applicable legal provisions of the Stock Exchange Act and the provisions of the rules for the operation of the Vienna MTF. The admission criteria and ongoing obligations are specified in the rules for the corporates prime segment (pdf-file 300 KB – German).
- corporates standard
The corporates standard segment contains all other corporate bonds, which do not meet specific additional criterias of the corporates prime segment.
The financial sector segment contains notes issued by the following kind of issuers:
- Special Purpose Vehicles (SPVs) that are not part of a group of companies, using the issuance proceeds for the purchase of assets.
performance linked bonds
The performance-linked bond segment contains structured bonds whose interest and repayment depend on an underlying instrument. Underlyings may be stock indices, commodities, hedge funds, etc. The issuers are usually banks or special purpose vehicles (SPVs). The range of products includes securities with a capital guarantee as well as without a capital guarantee, and reverse convertible notes (cash or share bonds).