Austria: Schoenherr advises dealer managers on successful issuance of EUR 500m subordinated notes (Tier 2) by VOLKSBANK WIEN AG and tender offer

The new notes, which constitute Tier 2 instruments pursuant to Article 63 of Regulation (EU) No 575/2013 (CRR), were successfully issued under Austrian law on 4 September 2024 under VOLKSBANK WIEN AG's Debt Issuance Programme and placed with professional clients and eligible counterparties. The notes have a term of 11 years and three months, an interest rate change date on 4 December 2030, mature in December 2035, and have a denomination of EUR 100,000 and multiples thereof. They are listed on the Official Market (Amtlicher Handel) of the Vienna Stock Exchange.

"We are pleased that the managers chose to rely on our legal expertise for this combined transaction, consisting of a tender offer and the new issuance of the Tier 2 notes," said attorney at law Angelika Fischer, who led the Schoenherr team together with Christoph Moser.

"Congratulations to VOLKSBANK WIEN and to the managers on the successful placement," added partner and co-head of Schoenherr's capital markets practice Christoph Moser.

Besides Christoph Moser (lead partner) and Angelika Fischer (attorney at law), the Schoenherr team consisted of Daniel Gritsch (associate) and Clemens Stockhammer.

Wolf Theiss Rechtsanwälte GmbH & Co KG (Claus Schneider, Nikolaus Dinhof-Renezeder and Sebastian Prakljacic) advised VOLKSBANK WIEN as issuer's counsel.