Wolf Theiss advises VOLKSBANK WIEN AG in relation to its tender offer and on its issue of EUR 500,000,000 Subordinated Notes (Tier 2)

Vienna, 16 September 2024 – Wolf Theiss comprehensively advised Volksbank Wien AG (i) in relation to its invitation to existing holders of their outstanding EUR 400m 2.75% Fix to Fix Tier 2 Notes (AT000B121967), to tender their Tier 2 notes for purchase by the Company and (ii) as Issuer on its issue of “EUR 500.000.000 5.500% Fixed to Fixed 11.25NC6.25 Subordinated Notes (Tier 2) with an Interest Rate Change Date on 4 December 2030” (AT000B122296).

The tender offer commenced on 27 August 2024 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 27 August 2024. Tier 2 Notes in the amount of EUR 209,500,000 were validly tendered. The settlement of the tender offer took place on 6 September 2024.

Furthermore, Volksbank Wien AG successfully completed the issue of EUR 500 million Tier 2 notes. The notes have a maturity of 11.25 years and were placed with institutional investors and eligible counterparties with an initial coupon of 5.500% per annum. The denomination is EUR 100,000.00 per note and the notes are listed on the Official Market (Amtlicher Handel) of the Vienna Stock Exchange. The signing took place on 2 September 2024 and the closing on 4 September 2024.

The international banking consortium was advised by Christoph Moser, Angelika Fischer and Daniel Gritsch (Schönherr Rechtsanwälte GmbH).

Volksbank Wien AG was advised by Partner Claus Schneider, Counsel Nikolaus Dinhof-Renezeder, Senior Associate Sebastian Prakljacic, as well as Associate Rainer Holweg (all Debt Capital Market) and with regard to tax aspects by Counsel Eva Stadler (Tax).

“We are pleased that the second Tier 2 issue of VOLKSBANK WIEN in 2024 was placed successfully; we thank them for the trust they have placed in us and congratulate the VOLKSBANK WIEN team on this successful issuance and on the well-executed tender offer.”

– Claus Schneider, Partner at Wolf Theiss’ office in Austria.