Wolf Theiss has advised DekaBank, DZ Bank AG, Erste Group, LBBW, UniCredit Bank, and Hypo Noe as managers on the Hypo Noe's successful EUR 500 million public-sector Pfandbriefe benchmark issue. Clifford Chance advised the banks on German law aspects.
The Public Pfandbriefe, which has an Aa1 rating from Moody's, is structured with a soft-bullet repayment structure and has a term of seven years. The coupon is 0.01% per annum (mid-swap +8 basis points).
The Wolf Theiss team included Partner Claus Schneider, Counsel Eva Stadler, and Associate Nikolaus Dinhof.
The Clifford Chance team included Partner Sebastian Maerker and Lawyer Erazem Bohinc.