Wolf Theiss has advised the Vienna Insurance Group as issuer and Erste Group as arranger, sole lead advisor, and bookrunner on VIG's issuance of a EUR 250 million 3.5% tier 2 subordinated bond to run from 2017 to 2027.
The issuance was announced on April 21, 2017, and was directed primarily at Austrian and German retail investors. Wolf Theiss reports that when published, the range of the coupon was set at 3.5% to 3.625%, and set at the lower end of the range following the book-building on April 26. The book, kept by Erste Group, reached EUR 250 million in two hours.
Wolf Theiss Partner Alexander Haas and Associate Nikolaus Dinhof handled the documentation and legal issues surrounding the capital market, with Partner Claus Schneider and Consultant Christine Siegl advising on structuring the product.
