Schoenherr has advised Uniqa Insurance Group AG on its EUR 375 million green tier two notes and concurrent repurchase of existing subordinated notes in the same principal amount. Freshfields advised dealer managers and joint bookrunners J.P. Morgan Bank AG and Raiffeisen Bank International AG.
According to Schoenherr, “as a result of the tender offer, Uniqa refinanced initial coupons of 6.000% and 6.875% of EUR 375 million existing subordinated notes maturing 2023 and 2026 respectively, through the placement of a new green bond with a significantly lower coupon of 2.375%. The new subordinated notes, which are rated BBB by Standard & Poor's, are eligible as tier two basic own funds in accordance with regulatory requirements.”
Schoenherr’s team included Partners Ursula Rath, Christoph Moser, and Peter Feyl, Attorney Marco Thorbauer, and Associate Viktoria Stark.
Freshfields’ team included Partner Stephan Pachinger, Counsel Birgit Schulz, and Associate Benedikt Graf.
