Wolf Theiss has advised Volksbank Wien on its issuance of a subordinated bond (tier 2) with a volume of EUR 400 million. The bond has a term of 10 years.
The subordinated bond was offered exclusively to institutional investors for purchase, and the interest rate for the first five years was set at 2.75% per annum. The issuer is entitled to a one-time right to terminate the 10-year fix to fix interest-bearing subordinate bond.
Volksbank Wien, which has 1,238 employees, a balance sheet total of EUR 10.2 billion, and 65 locations in Vienna, Burgenland, and Lower Austria, is the largest of the Austrian Volksbanks (as of June 30, 2017). As of July 2015, it has also served as the central organization of the Volksbanks in Austria.
The Wolf Theiss team was supervised by Partner Alexander Haas and consisted of Partner Niklas Schmidt, Consultant Christine Siegl, and Senior Associate Eva Stadler.
Editor's Note: After this article was published Rautner Rechtsanwalte announced that it had advised a banking syndicate consisting of Credit Agricole Corporate and Investment Bank, Erste Group Bank AG, HSBC Bank plc, and UBS Limited as Joint Lead Managers on Volksbank Wien's issuance. The firm's team was led by Partner Walter Gapp.
