Wolf Theiss has advised Erste Group Bank AG on the issue of EUR 500 million of Additional Tier 1 Notes and on the issue of EUR 750 million Mortgage Pfandbriefe. Linklaters and Rautner Rechtsanwalte advised the lead managers (HSBS, BofA Securities, Morgan Stanley, and Societe Generale) on the Tier 1 note issuance. Weber & Co advised the banks (Banca IMI, Danske Bank, DekaBank, DZ BANK, Erste Group (in its capacity as Manager) and LBBW) on the Mortgage Pfandbriefe.
According to Wolf Theiss, “the Additional Tier 1 Notes rated BBB- by Standard & Poor’s have no fixed due date and were placed with institutional investors with a coupon of 3.375% per annum. The Additional Tier 1 Notes are intended to further strengthen Erste Group Bank AG's capital base and are listed in official trading on the Vienna Stock Exchange. The signing took place on January 23, 2020, the closing on January 27, 2020.”
According to Weber & Co., the EUR 750 million Mortgage Pfandbriefe "were issued on 15 January 2020 under Erste Group Bank AG's Covered Bonds Programme. They have a maturity until 2030 and a denomination of EUR 100,000 each and are listed on the Official Market of the Vienna Stock Exchange. The transaction is the first issue of Mortgage Pfandbriefe in Austria in 2020."
Wolf Theiss's team included Partner Claus Schneider, Counsel Eva Stadler, Senior Associate Nikolaus Dinhof, and Associate Sebastian Prakljacic.
Linklaters' team included Partner Peter Waltz, Managing Associate Martin Rojahn, and Associate Rowina Ullner.
Rautner's team included Partner Walter Gapp and Managing Associate Rene Semmelweis.
Weber & Co.'s team included Partner Christoph Moser and Associate Angelika Fischer.