Wolf Theiss advises VOLKSBANK WIEN AG on the placement of EUR 500 million covered bonds and EUR 220 million additional Tier 1 Notes

Wolf Theiss advised the issuer in both transactions extensively.  

EUR 500 million covered bonds

On 4 March 2019, VOLKSBANK WIEN AG issued „0.375% VOLKSBANK WIEN EUR 500 Million Covered Bonds 2019-2026″ (ISIN: AT000B122031) as series 4 under its debt issuance programme.

The CCP eligible bond with a denomination of EUR 100,000 is listed on the Official Market of the Vienna Stock Exchange. DZ Bank, Erste Group Bank, HSBC, ING Bank and LBBW advised on the transaction as Joint Lead Managers.

Partner Alex Haas (DCM) led the Wolf Theiss team consisting of the two Associates Lucia Mocibob and Nikolaus Dinhof, Legal Trainee Sebastian Prakljacic (Banking & Finance), as well as Counsel Eva Stadler Partner Niklas Schmidt (Tax).

Euro 220 Million Additional Tier 1 Notes

On 9 April 2019 the closing of a placement of VOLKSBANK WIEN AG titled “EUR 220,000,000 Fixed to Reset Rate Additional Tier 1 Notes of 2019 with a First Reset Date on 9 April 2024” (ISIN: AT0008121991) took place. The AT 1 notes with a denomination of EUR 200,000 are listed on the Official Market of the Vienna Stock Exchange. Goldman Sachs International acted as sole lead manager. This placement was not only the first AT 1 notes placement by VOLKSBANK WIEN AG, but also by a central organisation or an association of credit institutions.

Once again, VOLKSBANK WIEN AG relied on the expertise of the Wolf Theiss DCM Team. Led by Partner Alex Haas, Counsel Christine Siegl again advised on all regulatory aspects of the own funds issue. Associates Nikolaus Dinhof, Anna Nowodworska and Nevena Skocic (DCM) as well Counsel Eva Stadler and Partner Niklas Schmidt (Tax) were also involved in the transaction.  

Commenting on these two deals, Alex Haas explained: “We are very pleased that our DCM Team has reached a level of strength that allows us to manage several demanding transactions at the same time. Christine Siegl’s participation in the AT 1 issue, in particular, and her long-standing experience in the area of financial regulatory was once again of decisive importance for a successful closing. We would like to thank the entire Volksbank Wien team for their excellent cooperation and the trust they have placed in us.”