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17 May 2021
press release

Austria: Schoenherr advises managers on issue of EUR 300m Ordinary Senior Eligible Notes by Kommunalkredit Austria AG

Schoenherr advised the Joint Lead Managers and the Co-Lead Manager on the successful issue of EUR 300m 0.25 % Ordinary Senior Eligible (fixed rate) Notes due 2024 by Kommunalkredit Austria AG.

The eligible notes were successfully issued under Austrian law on 14 May 2021 under Kommunalkredit Austria AG's EUR 800m Debt Issuance Programme and placed with professional clients and eligible counterparties. The notes (ISIN AT0000A2R9G1) have a term of three years, mature in May 2024, and have a denomination of EUR 100,000 each. They are admitted to the Official Market (Amtlicher Handel) of the Vienna Stock Exchange.

The banking consortium inter alia comprised Erste Group Bank AG (Austria), Landesbank Baden-Württemberg (LBBW) (Germany) and Raiffeisenbank International AG (Austria) acting as joint lead managers, and Landesbank Hessen-Thüringen Girozentrale (Helaba) (Germany) acting as co-lead manager in connection with the placement of the notes.

"We are pleased that the managers relied on our legal expertise for the issuance of the Ordinary Senior Eligible Notes by Kommunalkredit. We thank the managers and the issuer for their trust. Congratulations to the issuer and all other parties involved on the successful completion of the transaction", says partner and co-head of Schoenherr's capital markets practice Christoph Moser.

The Schoenherr team consisted of Christoph Moser (lead partner), Angelika Fischer and Hubertus Forsthuber.

Wolf Theiss Rechtsanwälte GmbH & Co KG (lead partner Alexander Haas, Nikolaus Dinhof and Sebastian Prakljacic) advised Kommunalkredit Austria AG as issuer's counsel.

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