On 3 September 2019, Raiffeisen Bank International AG (RBI) decided to invite the holders of its EUR 500,000,000 Subordinated Callable Fixed Rate Reset Notes due February 2025 (ISIN: XS1034950672) issued on 21 February 2014, to make offers to RBI for the repurchase such notes.
Furthermore, RBI issued and successfully placed EUR 500,000,000 Tier 2 Notes due 2030, under its EUR 25,000,000,000 Debt Issuance Programme. This is RBI’s first public benchmark Tier 2 offering since more than five years. This time, the transaction included the issuance of Subordinated Callable Fixed-to-Fixed Rate Reset Notes in the denomination of EUR 100,000 each. The Notes are issued for a ten year and six months term with maturity in March, 2030 and a coupon of 1.5% per annum until the First Call Date. The Notes are listed on the Luxembourg Stock Exchange.
The issuance of EUR 500,000,000 Tier 2 Bonds due 2030 was supported by RBI, BNP Paribas, Citi Bank, UBS and Bank of America Marrill Lynch as joint lead managers.
In terms of legal advice, RBI once again relied on the expertise of the Wolf Theiss Debt Capital Markets Team led by Partner Alexander Haas with a support of Counsel Christine Siegl and the Associates Nevena Skocic and Nikolaus Dinhof. Freshfields Bruckhaus Deringer LLP, Germany acted as the legal advisor to RBI in connection with the tender offer while White & Case LLP, Frankfurt, acted as the legal advisor to the joint lead managers.