Schoenherr advised Joint Lead Managers, among others Danske Bank, Erste Group, ING, NATIXIS and UBS, on the successful issuance of EUR500m 5.750% Fixed to Fixed 10.25NC5.25 Subordinated Notes (Tier 2) by VOLKSBANK WIEN AG.
The notes, which constitute Tier 2 instruments pursuant to Article 63 of Regulation (EU) No 575/2013 (CRR), were successfully issued under Austrian law on 21March2024 under VOLKSBANK WIEN AG's Debt Issuance Programme and placed with institutional investors and eligible counterparties. The notes have a term of ten years and three months, an interest rate change date on 21June2029, mature in June2034 and have a denomination of EUR100,000 and multiples thereof. They are listed on the Official Market (Amtlicher Handel) of the Vienna Stock Exchange.
The Joint Lead Managers for the issuance comprisedinter aliaDanske Bank (Denmark), Erste Group (Austria), ING (The Netherlands), NATIXIS (France) and UBS (Germany).
"We are pleased that the Joint Lead Managers relied on our legal expertise for the issuance of the Tier 2 Notes," said partner and co-head of Schoenherr's capital markets practice Christoph Moser. "Congratulations to VOLKSBANK WIEN and to the Joint Lead Managers on the successful placement."
The Schoenherr team was led by Christoph Moser (partner) and Angelika Fischer (attorney at law) and further consisted of Daniel Gritsch (associate) and Clemens Stockhammer.
Wolf Theiss Rechtsanwälte GmbH & Co KG (Claus Schneider, Nikolaus Dinhof-Renezeder, Sebastian Prakljacic, Rainer Holweg and Peter Marcher) advised VOLKSBANK WIEN as issuer's counsel.