Schoenherr advised the Managers on the successful issue of EUR 1bln 3.000 % Mortgage Pfandbriefe (Hypothekenpfandbriefe) due 2032 by Erste Group Bank AG.
The notes (Mortgage Pfandbriefe, Hypothekenpfandbriefe) were successfully issued under Austrian law on 20 January 2025 under Erste Group's Covered Bonds Programme and placed with professional clients and eligible counterparties. The notes, rated Aaa by Moody's, are due in April 2032 and have a denomination of EUR 100,000. They are listed at the Official Market (Amtlicher Handel) of the Vienna Stock Exchange.
The banking consortium comprised BayernLB, BMO Capital Markets, DekaBank, DZ BANK AG, Erste Group, Landesbank Baden-Württemberg and UniCredit acting as the Joint Lead Managers in connection with the placement of the notes, as well as La Banque Postale as co-lead Manager.
"We are pleased that the Managers relied on our legal expertise for the issuance of EUR 1bln Mortgage Pfandbriefe by Erste Group," said partner and co-head of Schoenherr's capital markets practice Christoph Moser.
"Congratulations to the issuer and all parties involved on the successful placement," added Angelika Fischer, who led the Schoenherr team together with Christoph Moser.
Besides Christoph Moser (partner) and Angelika Fischer (attorney at law), the Schoenherr team consisted of Christian Cacic (attorney at law) and Clemens Stockhammer.
Wolf Theiss Rechtsanwälte GmbH & Co KG (Claus Schneider, Sebastian Prakljacic, Rainer Holweg and Magdalena Bertsch) advised Erste Group Bank AG as issuer's counsel.