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13 July 2020
press release
slovakia austria

Austria: Schoenherr advises UNIQA on successful placement of EUR 600m senior and EUR 200m tier 2 green notes

Schoenherr advised UNIQA Insurance Group AG, one of the leading insurance groups in Austria and CEE, on its EUR 800m in aggregate notes issuances that closed on 9 July 2020.

Proceeds from the 1.375 % EUR 600m senior notes, which are rated A- by Standard & Poor's, will be used to fund the approx. EUR 1bln acquisition of AXA companies in Poland, Slovakia and the Czech Republic, the largest investment in UNIQA's history to date, on which Schoenherr also advised. Proceeds from the 3.25 % EUR 200m tier 2 notes, which are rated BBB by Standard & Poor's, will be invested in sustainable investments over the next two years.

Both issuances were significantly oversubscribed and are listed on the Vienna Stock Exchange' Regulated Market. HSBC Bank plc, J.P. Morgan Securities plc and Raiffeisen Bank International acted as joint bookrunners.

"We congratulate UNIQA on closing this landmark transaction despite challenging market conditions and are proud to have advised on the first green bond of an Austrian insurance company" said Ursula Rath, who led the Schoenherr team advising UNIQA on this transaction.

The Schoenherr team advising UNIQA was led by Ursula Rath (partner) and consisted of Peter Feyl (partner), Marco Thorbauer (attorney at law) and Viktoria Stark (associate).

The Freshfields team advising the joint lead managers was led by Stephan Pachinger (partner) and supported by Christian Jöllinger (principal associate) and Jasmin Julia Denk (associate).



austria vienna