Austria: Schoenherr advises OMV on successful issuance of EUR 1bln corporate bonds

The bonds were placed among international institutional investors as well as Austrian retail investors and issued in two tranches of EUR 500m each. The first tranche has a an eight-year term, while the second has a 15-year term. The bonds are governed by German law and were issued based on OMV's EUR 14bln EMTN (euro medium term note programme). They have a denomination of EUR 1,000 each and are admitted to trading on the Official Market of the Vienna Stock Exchange as well as the regulated market of the Luxembourg Stock Exchange.

Bank of China, Citigroup, Commerzbank, Raiffeisen Bank International, Société Générale and Standard Chartered acted as joint bookrunners under the bond issuance.

"The issuance of the bonds under OMV's EMTN programme was a highly successful transaction, and we greatly appreciate the issuer's trust in our legal expertise," said attorney at law Angelika Fischer, who led the transaction together with partner and co-head of Schoenherr's capital markets practice group Christoph Moser.

"The successful placement of corporate bonds with a volume of EUR 1bln demonstrates the attractiveness of OMV's financial instruments," said Christoph Moser. "We are pleased to have supported OMV in this notable issuance."

OMV produces and markets oil and gas as well as chemical products in a responsible way and develops innovative solutions to support the circular economy. With a market capitalisation of around EUR 12.2bln at the end of the year, OMV is one of Austria's largest listed industrial companies.

The Schoenherr team consisted of Christoph Moser (partner), Angelika Fischer (attorney at law), Daniel Gritsch (associate) and Nikolaus Kresse (associate).

White & Case (lead: Karsten Wöckener, Felix Biedermann, Domenik Mack) advised the joint bookrunners as banks' counsel.