Wolf Theiss has advised joint lead managers and bookrunners Raiffeisen Bank International and MM Warburg on the subscription and placement of UBM Development's EUR 50 million issuance of 7% green bonds. DLA Piper advised the issuer.
The green bonds have a maturity of four years and were placed with institutional and retail investors with a coupon of 7% per annum. The green bonds are listed on the Official Market of the Vienna Stock Exchange.
UBM Development AG is an Austrian real estate developer of timber construction projects. Its strategic focus is on timber construction, green buildings, and smart offices in major CEE cities such as Vienna, Munich, Frankfurt, or Prague.
According to DLA Piper, "an amount equal to the net proceeds is intended to finance and/or refinance, in whole or in part, new or existing eligible projects in accordance with UBM’s Green Finance Framework."
Both Wolf Theiss and DLA Piper had also advised on UBM Development's previous bond issuances (as reported by CEE Legal Matters in November 2018, June 2019, and November 2019).
The Wolf Theiss team was led by Partner Claus Schneider and included Counsel Eva Stadler, Associate Sebastian Prakljacic, and Legal Trainee Caroline Zeitlberger.
The DLA Piper team included Partner Christian Temmel and Counsel Christian Knauder-Sima.