Gothaer Secures €300 Million in Bond Issuance
Deal News | Jun 26, 2025 | White & Case LLP
Global law firm White & Case LLP has provided legal counsel for the bank syndicate during the Gothaer Allgemeine Versicherung AG's public tender offer and subsequent €300 million bond issuance. Gothaer executed a public tender offer targeting the holders of an existing €250 million subordinated bond scheduled to mature in 2045, acquiring nearly €100 million in nominal value. Simultaneously, they launched a new subordinated fixed to floating rate bond with an aggregate nominal value of €300 million, also set to mature in 2045. This latest bond aligns with Tier2 basic own-funds requirements and features a fixed interest rate of 3.5% annually for the first ten years, transitioning to a floating rate thereafter. The White & Case team based in Frankfurt, led by partners Karsten Wöckener and Felix Biedermann, alongside counsel and associates, advised on this significant financial transaction.
Sectors
- Financial Services
- Legal Services
Geography
- Germany – The primary activity takes place in Germany, as the company Gothaer Allgemeine Versicherung AG and the advisory law firm White & Case's involved team are based there.
Industry
- Financial Services – The article discusses bond issuance and tender offers, both of which are financial transactions conducted by financial institutions, such as Gothaer.
- Legal Services – White & Case LLP, a global law firm, provided legal advisory services for the bond issuance and public tender offer highlighted in the article.
Financials
- €300 million – Nominal amount of the new subordinated fixed to floating rate bonds issued by Gothaer.
- €100 million – Nominal amount of existing bonds acquired by Gothaer under the public tender offer.
- 3.5% – Annual fixed interest rate for the new bonds for the first ten years.
- 2045 – Maturity year for both the newly issued bonds and the existing bonds Gothaer is acquiring.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Gothaer Allgemeine Versicherung AG | Issuing Company | Company | Gothaer is a German insurance company issuing bonds and conducting a public tender offer. |
| White & Case LLP | Legal Advisor | Company | Global law firm advising the bank syndicate on Gothaer's bond issuance. |
| Karsten Wöckener | Partner | Person | Lead partner from White & Case LLP's Frankfurt office on the transaction. |
| Felix Biedermann | Local Partner | Person | Local partner from White & Case LLP's Frankfurt office involved in the transaction. |