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Wolf Theiss Advises Volksbank Wien AG on Covered Bonds and Notes Placements

Wolf Theiss Advises Volksbank Wien AG on Covered Bonds and Notes Placements

Austria
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Wolf Theiss has advised Volksbank Wien AG on its March 4, 2019 placement of EUR 500 million covered bonds and the April 9, 2019 EUR 200 million additional tier 1 notes.

On March 4, 2019, Volksbank Wien AG issued 0.375% Volksbank Wien EUR 500 Million Covered Bonds 2019-2026 as series 4 under its debt issuance program. 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 led the Wolf Theiss team, which included Partner Niklas Schmidt (on tax aspects), Counsel Eva Stadler, Associates Lucia Mocibob and Nikolaus Dinhof, and Legal Trainee Sebastian Prakljacic.

Subsequently, on April 9, 2019, the placement of Volksbank Wien AG's EUR 220,000,000 Fixed to Reset Rate Additional Tier 1 Notes of 2019 with a First Reset Date on 9 April 2024 closed. 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.

The Wolf Theiss team on the April 9 placement was again led by Partner Alex Haas, with Counsel Christine Siegl advising on all regulatory aspects. Partner Niklas Schmidt, Counsel Eva Stadler, and Associates Nikolaus Dinhof, Anna Nowodworska, and Nevena Skocic were on the team as well. 

Wolf Theiss did not reply to our inquiries on the matter.

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