Binder Groesswang has advised Lenzing AG on the successful issuance of a EUR 500 million hybrid bond. Linklaters and Wolf Theiss advised joint global coordinators BNP Paribas and Morgan Stanley and joint bookrunners BNP Paribas, Morgan Stanley, and UniCredit.
According to Binder Groesswang, “on the basis of its structural features, the subordinated, unsecured bond will be accounted for in its entirety as equity in accordance with IFRS. It is structured as a perpetual bond and was heavily oversubscribed. The denomination of the hybrid bond is EUR 100,000.”
Binder Groesswang’s team included Partners Florian Khol, Tibor Fabian, and Christian Wimpissinger, Attorney Philipp Tagwerker, and Associate Anna-Maria Anderwald.
