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DLA Piper and Wolf Theiss Advise on UBM Development's Issuance of New Corporate Bond

DLA Piper and Wolf Theiss Advise on UBM Development's Issuance of New Corporate Bond

Austria
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DLA Piper has advised European hotel developer UBM Development AG on the successful issue of a new EUR 120 million corporate bond, including an exchange offer. Wolf Theiss advised joint lead managers and book-runners Raiffeisen Bank International AG and M.M.Warburg & CO.

“The Bond 2019 was successfully placed on the first day of the offer period," DLA Piper explained. "The cash subscription started on the morning of November 4, 2019, and due to the extraordinarily strong demand, the books were closed again shortly after that morning. UBM has already issued numerous corporate bonds and has often combined exchange offers with new bond issues in the past. However, this time UBM is the first company in Austria to use a full capital market prospectus under the new regime of the European Prospectus Regulation when issuing a EUR 120 million bond.”

Earlier this year DLA Piper and Wolf Theiss advised on the topping up of UBM corporate bond 2018-2023 (as reported by CEE Legal Matters on June 21, 2019).

DLA Piper’s Vienna-based team was led by Partner Christian Temmel and included Senior Associate Christian Knauder. 

The Wolf Theiss team was led by Partner Alexander Haas.  

DLA Piper at a Glance

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, helping clients with their legal needs around the world. We strive to be the leading global full-service law firm by delivering quality and value to our clients. With practical and innovative legal solutions, we help our clients succeed.

In Central and Eastern Europe (CEE), DLA Piper continues to grow and now employs more than 320 lawyers, including 46 partners across its six offices in Austria, the Czech Republic, Hungary, Poland, Romania and Slovakia. With our global set-up and established relationship firms across all other CEE jurisdictions, we are among the largest and most experienced international law firms in the region. Through our experience gained advising on a variety of high-profile projects and the long-term relationships we have established with our clients, we have built a reputation as a leading business law firm across CEE.

Firm's website.