IFLR1000

Erste Group €750 million 0.625% pfandbrief issue

19/1/2016
Investment grade bond/note issue
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€ 750 million

$ 833.8 million

Completed

19/1/2016

Overview:

  • Austrian lender Erste Group Bank issued a €750 million fixed-rate pfandbrief (German law covered bond).
  • The bond, which uses mortgages as collateral, has a coupon of 0.625% and matures in January 2023. 
  • Société Générale, Danske Bank, Landesbank Baden-Württemberg and Landesbank Hessen-Thüringen Girozentrale were lead managers on the transaction.
  • The bond was placed with institutional investors and listed on the second regulated market of the Vienna Stock Exchange.

Wai Yee Tsang - Journalist

Jurisdiction:

Austria

Deal type:

Investment grade bond/note issue

Practice area:

Capital markets : Debt

Governing law:

Germany

Industry sector:

Banking

Firms:
A&O Shearman

Party: Erste Group Bank (Issuer)

Schoenherr

Party: Société Générale (Lead manager)

Party: Danske Bank (Lead manager)

Party: Landesbank Hessen-Thüringen Girozentrale (Lead manager)

Party: Landesbank Baden-Württemberg (Lead manager)

Wolf Theiss

Party: Erste Group Bank (Issuer)

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