Austria: Schoenherr advises Erste Group on successful issuance of EUR 80m Breiteneder Immobilien Parking bond and exchange offer

The firm also advised Erste Group Bank AG in its capacity as lead manager and Oberbank AG as co-lead manager on the subsequent successful tap issue of the Breiteneder Immobilien Parking 4.875 % Notes 2024-2030.

The two notes tranches with an aggregate principal amount of EUR 80m were issued under the EUR 150m Debt Issuance Programme of Breiteneder Immobilien Parking Konzernfinanzierungs GmbH. The bonds (ISIN: AT0000A3DGB3) issued under Austrian law bear interest at 4.875 %, mature in 2030, and are irrevocably and unconditionally guaranteed by Breiteneder Immobilien Parking AG. The Breiteneder Immobilien Parking 4.875 % Notes 2024-2030 were successfully placed both in the course of the exchange offer as well as during the subsequent tap issue in June/July 2024 with professional clients, eligible counterparties and Austrian retail investors. The notes have a denomination of EUR 1,000 each and are listed on the Official Market (Amtlicher Handel) (market segment "corporates prime") of the Vienna Stock Exchange.

"We are pleased that Erste Group relied on our legal expertise for this combined transaction consisting of a debt issuance programme, an exchange offer and a notes issuance," said Christoph Moser, partner and co-head of Schoenherr's capital markets practice.

"We congratulate the issuer and the managers on the successful placement," added attorney-at-law Angelika Fischer, who led the Schoenherr team together with Christoph Moser.

Breiteneder Immobilien Parking Group is one of the leading developers, owners and operators of parking and mobility infrastructure and projects in other asset classes in Central and Southeastern Europe.

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

CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH (Martin Zuffer, Philipp Mark, Walter Gapp) advised the issuer.