White & Case has advised joint lead managers BNP Paribas, J.P. Morgan, Erste Group, ING, MUFG, and Societe Generale Corporate & Investment Banking on a EUR 500 million hybrid bond issue by OMV Aktiengesellschaft with an initial fixed interest rate and interest adjustment. Weber & Co. advised OMV on the deal.
According to White & Case, the hybrid bond has an unlimited term and an initial fixed coupon of 2.875% and is subordinated to OMV's other financial liabilities. The hybrid bond will be admitted to trading on the regulated market of the Luxembourg Stock Exchange and the Official Market of the Vienna Stock Exchange. Proceeds from the issue are intended to be used for general corporate purposes.
The White & Case team in Frankfurt was co-led by Partner Karsten Wockener and local Partner Cristina Freudenberger, and included Partner Rebecca Emory, Counsel Alexander Born, and Associate Philipp Kronenbitter.
The Weber & Co. team was led by Partner Christoph Moser.
