Schoenherr has advised the managers on the EUR 750 million issuance of 2.5% mortgage pfandbriefe due 2030 by the Erste Group Bank. Wolf Theiss reportedly advised Erste.
The joint lead managers included Credit Agricole Corporate and Investment Bank, Erste Group Bank AG, Landesbank Hessen-Thuringen Girozentrale, Nykredit Bank A/S, and Scotiabank Designated Activity Company, with Belfius Bank SA/NV as co-lead manager.
According to Schoenherr, “the notes (mortgage pfandbriefe, hypothekenpfandbriefe) were successfully issued under Austrian law and the new Austrian Covered Bond Act on September 19, 2022, under Erste Group's covered bonds program and placed with professional clients and eligible counterparties. The notes are rated Aaa by Moody's, have a term of eight years, and a denomination of EUR 100,000. They are listed at the Official Market of the Vienna Stock Exchange.”
Earlier this year, Schoenherr and Wolf Theiss advised on two other mortgage bond issuances by Erste, totaling EUR 1.5 billion (as reported by CEE Legal Matters on January 19, 2022).
Editor's Note: After this article was published, Wolf Theis confirmed it had advised Erste. The firm's team included Partner Claus Schneider, Counsel Eva Stadler, Senior Associate Nikolaus Dinhof-Renezeder, and Associate Sebastian Prakljacic.