Following the Additional Tier 1 ("AT 1") issuances of Raiffeisen Bank International AG ("RBI") from June 2017 and January 2018, RBI again issued AT 1 notes with unlimited maturity. With this AT 1 EUR 500,000,000 issue RBI further optimizes its capital structure. The coupon of the issuance is 6% per annum until mid-December 2026 and will be reset thereafter. The AT 1 Notes, which are listed on the Luxembourg Stock Exchange, were offered exclusively to institutional investors. With demand of EUR 1.6 billion, the orderbook was significantly oversubscribed and met with a high level of interest from investors, primarily from the UK, continental Europe and Asia.
RBI was advised on Austrian law by Wolf Theiss DCM Partner Alex Haas, Counsel Christine Siegl (Regulatory, in charge) and Associate Sebastian Prakljacic (DCM). Furthermore, Partner Niklas Schmidt and Counsel Eva Stadler (both Tax) from Wolf Theiss were involved. RBI was advised on German law by Linklaters, in particular by Peter Waltz (Partner) and Martin Rojahn (Managing Associate). The Joint Lead Managers were advised by Freshfields (Austria).
"We have been delighted to assist RBI in this important transaction, which, particularly due to our swift regulatory law advice, could be closed within an ambitious timeframe", commented Alex Haas.