Austrian property and construction company is issuing a EUR 175 mln corporate bond to be used for general business purposes and improve the company's financing structure. The fixed-interest bond has a term to maturity of seven years and a coupon of 4.75 % per annum.

Strabag said the issue us being offered to institutional investors and private Austrian investors from 19 to 23 May 2011.

Joint lead managers of the issue are Raiffeisen Bank International, Erste Group Bank and UniCredit Bank Austria.

The international ratings agency S&P proposes an investment grade with a rating of BBB- for the STRABAG 2011 bond.