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18 April 2023
press release

Austria: Schoenherr advises Joint Lead Managers on issuance of EUR 1bln Hypothekenpfandbriefe (Mortgage Pfandbriefe) by Erste Group Bank AG

Schoenherr advised Joint Lead Managers Erste Group Bank AG, Intesa Sanpaolo S.p.A., Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen Girozentrale, NATIXIS and TD Global Finance unlimited company on the successful issuance of EUR 1bln 3.125% Hypothekenpfandbriefe (Mortgage Pfandbriefe) – due 14 October 2027 – by Erste Group Bank AG.

The covered bonds were successfully issued under Austrian law on 14 April 2023 under Erste Group Bank AG's Covered Bonds Programme and placed with institutional investors and eligible counterparties. The covered bonds have a term of four years, mature in October 2027 and have a denomination of EUR 100,000 and multiples thereof. They are listed on the Official Market (Amtlicher Handel) of the Vienna Stock Exchange.

Erste Group Bank AG (Austria), Intesa Sanpaolo S.p.A. (Italy), Landesbank Baden-Württemberg (Germany), Landesbank Hessen-Thüringen Girozentrale (Germany), NATIXIS (France) and TD Global Finance enlimited company (Ireland) acted as Joint Lead Managers for the issuance.

"We are pleased that the Joint Lead Managers relied on our legal expertise for the issuance of the Hypothekenpfandbriefe," said partner and co-head of Schoenherr's capital markets practice Christoph Moser. "Congratulations to Erste Group Bank AG and to the Joint Lead Managers on the successful placement."

Besides Christoph Moser (lead partner), the Schoenherr team consisted of Ursula Rath (partner), Angelika Fischer (attorney at law), Daniel Gritsch (associate) and Clemens Stockhammer.

Wolf Theiss Rechtsanwälte GmbH & Co KG (Claus Schneider, Sebastian Prakljacic, Nicolas List and Jonathan Gruber) advised Erste Group Bank AG as issuer's counsel.

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