Austria: Schoenherr advises OMV on successful issue 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, one with a seven-year term and the other with a 12-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. The bonds are rated "A3" by Moody's and "A-" by Fitch.

Barclays, Erste Group, Mizuho, Raiffeisen Bank International, Société Générale and UniCredit acted as joint bookrunners under the bond issue.

"The issue of the bonds under OMV's EMTN programme was a highly successful transaction," said partner and co-head of Schoenherr's capital markets practice Christoph Moser. "We are very pleased that the issuer relied on our legal expertise for this issuance."

"The placement was not only directed at institutional investors but also attracted significant interest from retail investors, demonstrating the appeal of OMV's financial instruments," added Angelika Fischer, who co-led the transaction.

OMV produces and markets oil and gas, as well as chemical products and solutions in a responsible way and develops innovative solutions for a circular economy. With a market capitalisation of around EUR 13bln 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 Clemens Stockhammer.

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