Rautner Rechtsanwälte Advises Bank Consortium on €750 Million Pfandbrief Issue

Rautner Rechtsanwälte recently advised an international bank consortium consisting of Landesbank Baden-Württemberg (Technical Lead) (Germany), Crédit Agricole Corporate and Investment Bank (France), ING Bank N.V. (Netherlands), and Natixis (France) on their successful purchase of fixed-interest mortgage bonds issued by Erste Group Bank AG (Austria). The deal was valued at €750 million and closed on 18 January 2017. The bond issue was privately placed with institutional investors and then listed on the Vienna Stock Exchange.

The bank consortium was advised by Uwe Rautner (Partner), Walter Gapp (Partner), and René Semmelweis (Associate) of Rautner Rechtsanwälte (Austria). Allen & Overy’s legal office in Frankfurt, Germany (Partner Christoph Enderstein, Paralegal Sven Steinbach) advised the bank consortium on questions of German law (the bonds are subject to German law except for their status clause). Wolf Theiss (Austria) as well as the in-house counsels Claudia Göggel-Fesl, Andrea Pontasch and Sabrina Dittinger advised the issuer Erste Group Bank AG.