IFLR1000

Erste Group Bank €1 billion pfandbrief issue

17/1/2018
Covered bond issue
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€ 1 billion

$ 1.243 billion

Completed

17/1/2018

Overview:

  • Austrian lender Erste Group Bank issued a €1 billion pfandbrief - a German law governed covered bond.
  • The notes, which are collateralised by mortgages, have a coupon of 0.75% and mature in 2028. 
  • The bond is listed on Vienna's stock exchange.
  • Landesbank Baden-Württemberg, Crédit Agricole Corporate and Investment Bank, Credit Suisse Securities, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, and Erste Group Bank were joint lead managers on the transaction.

Ben Naylor - Regional editor

Jurisdictions:

Germany
Austria

Deal type:

Covered bond issue

Practice area:

Capital markets : Debt

Governing laws:

Austria
Germany

Industry sector:

Banking

Firms:
A&O Shearman

Party: Landesbank Baden-Württemberg (Joint lead manager)

Party: Crédit Agricole Corporate and Investment Bank (Joint lead manager)

Party: Erste Group Bank (Joint lead manager)

Party: Credit Suisse Securities (Joint lead manager)

Party: DZ BANK AG Deutsche Zentral-Genossenschaftsbank (Joint lead manager)

Rautner

Party: Credit Suisse Securities (Joint lead manager)

Party: Landesbank Baden-Württemberg (Joint lead manager)

Party: Crédit Agricole Corporate and Investment Bank (Joint lead manager)

Party: DZ BANK AG Deutsche Zentral-Genossenschaftsbank (Joint lead manager)

Party: Erste Group Bank (Joint lead manager)

Lawyer: Uwe Rautner

Wolf Theiss

Party: Erste Group Bank (Issuer)

Lawyer: Claus Schneider

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