EUR 7.0 billion for the new 5-year Belgian OLO 105

On 14th May, 2025, the Belgian Debt Agency issued its third and last OLO syndicated benchmark transaction for the year: the new 5-year OLO maturing 22 October 2030. The OLO 105 has an annual coupon of 2.6% and was issued at a price of 99.893%, giving a reoffer yield of 2.623%. 

The transaction saw strong participation from the outset, with the orderbook growing to over EUR 72 billion at closing, which encouraged the Belgian Debt Agency to set the new issue size at EUR 7 billion. This represents the largest orderbook for an OLO syndication in the 5-year tenor sector, and Belgium’s third largest EUR orderbook to date. 

The funding plan for 2025 includes an expected issuance of EUR 42 billion of OLOs. With this transaction included, a total of EUR 28.174 billion has already been issued, or 67.1% of this amount.

More details on the new 5-year OLO are available in the annex.