Wolf Theiss has advised Erste Group Bank AG on its January 18, 2017 placement of a fixed-interest mortgage-backed Pfandbrief with a volume of EUR 750 million on the international capital market. Allen & Overy advised the participating consortium of banks.
The fixed-interest mortgage-backed Pfandbrief received Moody's highest rating (Aaa) and will mature in 10 years. It was placed with institutional investors. The backing of the Pfandbrief by the collateral value of the collateral pool for mortgage-backed Pfandbriefe allowed Erste Group Bank AG to set the coupon at 0.625% annually over the course of the pricing. The Pfandbrief is listed on the Second Regulated Market of the Vienna Stock Exchange.
The Wolf Theiss team advising Erste Group was led by Banking & Finance Partner Claus Schneider and Associate Nikolaus Dinhof.
The Frankfurt-based Allen & Overy team advising the banks was led by Partner Christoph Enderstein, supported by Associate Sandra Ziener and Paralegal Sven Steinbach.