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02 February 2021
press release

Austria: Schoenherr advises Joint Bookrunner on the successful issue of EUR 100m convertible bonds by DO & CO Aktiengesellschaft

Schoenherr advised Jefferies (Sole Global Coordinator and Joint Bookrunner), Erste Group and Hauck & Aufhäuser (each as a Joint Bookrunner) as to Austrian law in connection with the successful, oversubscribed issue of convertible bonds by DO & CO Aktiengesellschaft ("DO & CO").

On 28 January 2021, DO & CO issued convertible bonds under Austrian law in an aggregate nominal amount of EUR 100m (ISIN: AT0000A2N7T2). Initially, the bonds can be converted into approximately 1.24 million DO & CO shares (ISIN: AT0000818802) at a conversion price of approximately EUR 80.63 per share. The convertible bonds offer semi-annual interest payments at a coupon of 1.75 per annum. They have a term of five years, are divided into bonds with a denomination of EUR 100,000 each and are admitted to the Vienna MTF of the Vienna Stock Exchange.

"DO & CO and the Joint Bookrunners made an impressive leap into 2021 with the successful issue of the convertible bonds to institutional investors," said Schoenherr partner and co-head of the firm's capital markets practice Christoph Moser. "We are very pleased that the Joint Bookrunners relied on our expertise in relation to this challenging transaction."

DO & CO is an Austrian company listed on the Vienna Stock Exchange and the Istanbul Stock Exchange. With its three business segments Airline Catering, International Event Catering, and Restaurants, Lounges & Hotel, DO & CO offers gourmet entertainment worldwide.

The Schoenherr team consisted of Christoph Moser (partner), Ursula Rath (partner), Angelika Fischer (associate) and Viktoria Stark (associate).

Linklaters LLP, Frankfurt am Main (partners: Alexander Schlee and Peter Waltz) acted as international counsel to the Joint Bookrunners. Schuppich Sporn & Winischhofer attorneys-at-law (partners: Haig Asenbauer, Andreas Habeler and Bernhard Marussig) advised the issuer on the transaction.

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