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BPV Huegel, Linklaters, and Weber & Co. Advise on Immofinanz Share Placement and Notes Issuance

BPV Huegel, Linklaters, and Weber & Co. Advise on Immofinanz Share Placement and Notes Issuance

Austria
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BPV Huegel has advised Immofinanz on a combined share placement and the first-to-market issue of subordinated mandatory convertible notes. Linklaters and Weber & Co. advised bookrunners J.P. Morgan Securities plc, Sole Global Coordinator, and Erste Group Bank AG and Raiffeisen Centrobank AG.

Both placements together comprised approximately 20 percent of the share capital and were carried out in parallel by way of accelerated book-building procedures with institutional investors under exclusion of the shareholders' subscription rights.

The placement included new shares from authorized capital, as well as treasury shares. The shares were priced without discount to the last closing price on the Vienna Stock Exchange. At the same time, Immofinanz issued 4% subordinated mandatory convertible notes with a total nominal value of EUR 120 million, initially convertible into 6,998,228 shares.

Immofinanz is a commercial real estate group focusing on the office and retail segments of Austria, Germany, Poland, the Czech Republic, Slovakia, Hungary, and Romania. Its real estate portfolio is valued at approximately EUR 5.1 billion and covers more than 210 properties.

BPV Huegel's team was led by Partner Christoph Nauer and included Partner Kornelia Wittmann, Attorneys at Law Roland Juill, Daniel Reiter, and Nicolas Wolski, and Associate Barbara Valente.

Linklaters Frankfurt-based team consisted of Partners Peter Waltz and Marco Carbonare, Senior Associate Fran Albers-Schonberg, and Associate Tosan Kraneis.

Weber & Co's Vienna-based team was led by Partner Christoph Moser.

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