Rautner Rechtsanwälte recently advised an international banking syndicate consisting of DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Erste Group Bank AG, Landesbank Baden-Württemberg and Société Générale on the issue of a € 750 million fixed-rate mortgage-backed Pfandbrief by Erste Group Bank AG (closing: 26 June 2018). The bonds were placed with institutional investors and listed on the Vienna Stock Exchange.

The fixed-rate mortgage-backed securities were rated by Moody’s Investor Services with the highest investment grade possible (Aaa) and have a 6-year term with a soft bullet structure. The coupon was set at 0.25% per annum.

The banking syndicate was advised by Rautner’s Banking & Finance team consisting of Dr. Uwe Rautner (Partner, Lead) and Mag. René Semmelweis (Associate). The banking consortium was advised by Allen & Overy in Frankfurt on legal questions involving German law. Wolf Theiss supported Erste Group Bank AG in its capacity as issuer of the bonds.

The Austrian debt capital markets (DCM) practice of Rautner Rechtsanwälte advises both investment banks and issuers on national and international capital market transactions, with (particular) emphasis on bonds, issuance programs, and supervisory issues.