26
Fri, Apr
27 New Articles

DLA Piper and Wolf Theiss Advise on UBM Development's Issuance of New Corporate Bond

DLA Piper and Wolf Theiss Advise on UBM Development's Issuance of New Corporate Bond

Austria
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

DLA Piper has advised European hotel developer UBM Development AG on the successful issue of a new EUR 120 million corporate bond, including an exchange offer. Wolf Theiss advised joint lead managers and book-runners Raiffeisen Bank International AG and M.M.Warburg & CO.

“The Bond 2019 was successfully placed on the first day of the offer period," DLA Piper explained. "The cash subscription started on the morning of November 4, 2019, and due to the extraordinarily strong demand, the books were closed again shortly after that morning. UBM has already issued numerous corporate bonds and has often combined exchange offers with new bond issues in the past. However, this time UBM is the first company in Austria to use a full capital market prospectus under the new regime of the European Prospectus Regulation when issuing a EUR 120 million bond.”

Earlier this year DLA Piper and Wolf Theiss advised on the topping up of UBM corporate bond 2018-2023 (as reported by CEE Legal Matters on June 21, 2019).

DLA Piper’s Vienna-based team was led by Partner Christian Temmel and included Senior Associate Christian Knauder. 

The Wolf Theiss team was led by Partner Alexander Haas.  

Wolf Theiss at a Glance

With over 360 lawyers in 13 countries, over 80% of the firm’s work involves cross-border representation of international clients. We have concentrated our energies on a unique part of the world: the complex, fast-developing markets of the CEE/SEE region. Through our international network of offices, we work closely with our clients to develop innovate solutions that integrate legal, financial, and business know-how.

Wolf Theiss provides fully integrated corporate services in mergers and acquisitions, private equity, real estate, banking and finance, tax and insurance, employment law, competition law, energy law, privatisation, restructuring, public procurement and litigation. At Wolf Theiss, we measure our success by the success of our clients. We align our goals with yours to ensure that your needs are being met in even the most complex of cross-border matters. This means that we know how to listen to you and help you use the assets you already have while finding opportunities.

Firm's website:

Wolf Theiss – Leading Lawyers in CEE/SEE