Rautner Rechtsanwälte advises banks on EUR 500mn Senior Preferred Notes

Rautner Rechtsanwälte advised an international banking syndicate comprising Banca IMI, BNP Paribas, DZ BANK, Erste Group and ING Bank as Joint Lead Managers on the successful issuance of 500 million fixed-rate Senior Preferred notes by Vienna based Erste Group Bank AG (Closing: 16 April 2019). The notes are intended to be eligible for the minimum requirement for own funds and eligible liabilities (MREL) within the buckets available for Senior Preferred under forthcoming BRRD legislation.

The bond was placed with institutional investors and listed on the Official Market of the Vienna Stock Exchange. The bond is governed by German law except its status clause.

The Joint Lead Managers were advised on German law matters by Allen & Overy Frankfurt, the Issuer was advised by Wolf Theiss.

The Austrian DCM practice of Rautner Rechtsanwälte advises investment banks as well as issuers on national and international capital market transactions with a focus on bonds, issuance programmes and regulatory matters.