Wolf Theiss advises RBI and Erste Group Bank on the placement of a corporate bond of UBM Development AG by way of an exchange offer and a cash offer

UBM Development AG, a European Real Estate developer, has successfully placed a new corporate bond on the capital market. The placement was completed by way of an exchange offer for UBM’s bond 2014-2019 (ISIN: AT0000A185Y1) and a cash offer. UBM’s new bond 2018-2023 (ISIN: AT0000A23ST9) has a tenor of 5 years and a coupon of 3.125 %. The value date was 16 November 2018. The new bond with a denomination of € 500 is listed on the Corporate Prime Segment of the Official Market of the Vienna Stock Exchange. The proceeds from the bond issue are to be used for the issuer’s existing financing and for new and ongoing projects, particularly in the core markets of Germany, Austria and Poland.     

Raiffeisen Bank International AG and Erste Group Bank AG have been responsible for the placement of the bond. As regards legal advice, both banks have relied on the expertise of the Wolf Theiss DCM team.     

Alexander Haas led the Wolf Theiss team and was supported by Nikolaus Dinhof and Sebastian Prakljacic. “Combining an exchange offer and a cash offer was an interesting transaction structure and we would like to sincerely congratulate Erste Bank, RBI and UBM to this successful transaction”, Alexander Haas explained. UBM Development AG was advised by Christian Temmel of DLA Piper Weiss-Tessbach Rechtsanwälte.