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Wolf Theiss advises Oberbank AG on its issue of EUR 250,000,000 0.125% green mortgage covered bank bonds

Oberbank Ag successfully closed the issue of green mortgage covered bank bonds in the amount of EUR 250 million. The bonds have a maturity of ten years and were placed with professional clients and eligible counterparties with a coupon of 0.125 per cent. per annum. The denomination is EUR 100,000 per bond. The bonds are listed on the Official Market (Amtlicher Handel) of the Vienna Stock Exchange (Wiener Börse). The closing took place on 2 July 2021.

The proceeds of the issue will be used exclusively to refinance housing loans taken out in Austria that meet the sustainability criteria of the EU Taxonomy.

The bonds were placed by Crédit Agricole Corporate and Investment Bank, DekaBank Deutsche Girozentrale, Erste Group Bank AG and Raiffeisen Bank International AG as joint lead managers. The banking consortium was advised by Christoph Moser and Angelika Fischer (Schönherr Rechtsanwälte GmbH).

Oberbank was advised by Partner Alexander Haas and Associate Sebastian Prakljacic (all Debt Capital Markets) and on tax aspects by Counsel Eva Stadler (Tax).

Alex Haas on the transaction: “We are very pleased to have been involved in the first green covered bank bond issue of Oberbank and congratulate the Oberbank team on this successful trade.”


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