EUR 8.0 billion for the new 5-year Belgian OLO 108
Press release of the Belgian Federal Debt Agency
On 12th May 2026, the Belgian Debt Agency issued its third and last OLO syndicated benchmark transaction for the year: the new 5-year OLO maturing 22 August 2031. The OLO 108 has an annual coupon of 3.100% and was priced with a spread of 19bps over mid-swaps, corresponding to a re-offer yield of 3.124% and a re-offer price of 99.894%.
The transaction saw strong participation from the investors, with the orderbook surpassing EUR 45 billion at closing, which encouraged the Belgian Debt Agency to set the new issue size at EUR 8 billion.
The Belgian Debt Agency has now completed the launch of all three anticipated OLO fixed-rate benchmarks for the year, as outlined in December 2025. With today’s transaction, the Belgian Debt Agency has raised more than 62% of the planned 2026 OLO supply.
More details on the new 5-year OLO are available in the annex.