Wolf Theiss advises RBI on UBM’s tender offer and green hybrid bond issuance

Vienna, 8 May 2025 – Wolf Theiss advised Raiffeisen Bank International AG (“RBI”) in its role as Dealer Manager on the tender offer by UBM Development AG (“UBM”) for its EUR 100,000,000 Undated Resettable Fixed Rate Subordinated Sustainability-Linked Notes issued on 18 June 2021 (ISIN: XS2355161956), as well as in its role as Bookrunner on UBM’s issuance of its EUR 65,000,000 Undated Resettable Fixed Rate Deeply Subordinated Green Bonds (ISIN: AT0000A3K955).

The tender offer was launched on 23 April 2025, in accordance with the terms and conditions set out in the tender offer memorandum dated the same day. Bonds in the amount of EUR 43,600,000 were accepted for purchase by UBM. Settlement took place on 7 May 2025.

Concurrently, UBM completed the issuance of EUR 65 million Undated Resettable Fixed Rate Deeply Subordinated Green Bonds. The bonds were placed with professional investors and eligible counterparties and carry an initial coupon of 10% per annum. They are issued in denominations of EUR 100,000 and are listed on the Official Market (Amtlicher Handel) of the Vienna Stock Exchange. Closing also took place on 7 May 2025.

UBM was advised by Christian Temmel and Christian Knauder-Sima of DLA Piper Weiss-Tessbach Rechtsanwälte GmbH.

The Wolf Theiss team advising Raiffeisen Bank International AG was led by Partner Claus Schneider, supported by Senior Associate Sebastian Prakljacic, Associates Rainer Holweg and Magdalena Bertsch (all Capital Markets), as well as Counsel Eva Stadler on tax matters.