White & Case and Wolf Theiss have advised joint lead managers Barclays, MUFG, UniCredit Bank Austria, BNP Paribas, Credit Agricole CIB, J.P. Morgan, Societe Generale Corporate & Investment Banking, Bayern LB, DZ Bank AG, Helaba and SMBC Nikko on OMV Aktiengesellschaft's EUR 1.25 billion hybrid bonds issue. Weber & Co advised the issuer on the deal.
OMV is an Austrian multinational integrated oil and gas company that is headquartered in Vienna, Austria.
According to White & Case, “the bonds are issued in two tranches, in each case with an initial fixed interest rate and subsequent adjustment of the interest rate. With a principal amount of EUR 750 million, the first tranche has an initial fixed coupon of 2.5%. With a principal amount of EUR 500 million, the second tranche has an initial fixed coupon of 2.875%. The bonds will be admitted to trading in the Luxembourg Stock Exchange and the Vienna Stock Exchange.”
White & Case’s Frankfurt-based team consisted of Partners Karsten Wockener and Rebecca Emory, Local Partner Cristina Freudenberger, Counsel Alexander Born, and Associates Peter Becker, Florian Fraunhofer, Daniel Gillenkirch, and Daniel Sander.
Wolf Theiss’s team was led by Partner Claus Schneider.
Weber & Co’s team was led by Partner Christoph Moser, and included Associates Angelika Fischer, Yvonne Gutsohn, and Sebastian Cibulka.
The issuance marks OMV's third this year that White & Case and Weber & Co. have assisted with, following a two-tranch EUR 1.5 billion issuance on June 16 (as reported by CEE Legal Matters on June 24, 2020) and a three-tranch EUR 1.75 billion issuance in April (as reported on April 9, 2020).