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07 July 2021
press release

Austria: Schoenherr advises Joint Lead Managers on issue of EUR 250m green mortgage covered bonds by Oberbank AG

Schoenherr advised the Joint Lead Managers Crédit Agricole Corporate and Investment Bank, DekaBank, Erste Group and Raiffeisen Bank International on the successful green mortgage covered bank bond issue by Oberbank AG.

The issuance of the EUR 250m 0.125 % mortgage covered bonds under Austrian law took place on the value date 2 July 2021. The bonds mature in 2031 and are divided into bonds with a denomination of EUR 100,000 each. The bonds are listed on the Official Market of the Vienna Stock Exchange. Oberbank AG will use the proceeds of the issue exclusively to refinance housing loans taken out in Austria that meet the sustainability criteria of the EU Taxonomy.

Crédit Agricole Corporate and Investment Bank (France), DekaBank Deutsche Girozentrale (Germany), Erste Group Bank AG (Austria), and Raiffeisen Bank International AG (Austria) acted as Joint Lead Managers for the transaction.

"Congratulations to Oberbank and the banks on the successful completion of this green issue. We are very pleased that the underwriters have again relied on our expertise in this new issuance of debt securities by Oberbank," said Christoph Moser, partner and co-head of Schoenherr's capital markets practice, who had already advised the underwriters on the issuance of preferred senior eligible notes by Oberbank AG in January 2021.

The Schoenherr team consisted of Christoph Moser (lead partner); Ursula Rath (partner); Angelika Fischer (associate); and Hubertus Forsthuber.

Wolf Theiss (Alexander Haas and Sebastian Prakljacic) advised the issuer Oberbank AG.

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