UBM Development Completes Green Bond Issuance with Top Legal Advisory
Deal News | Nov 07, 2024 | Wolf Theiss
In a significant development in the Austrian real estate industry, UBM Development AG, an eminent real estate developer, has successfully completed the issuance of green bonds amounting to €93 million. The bonds, designed to promote environmentally friendly investment, offer a 7% annual coupon with a maturity of five years. They were allocated to both institutional and retail investors and are now listed on the Vienna Stock Exchange's Official Market. The transaction was meticulously structured and executed with the involvement of Raiffeisen Bank International AG and M.M.Warburg & CO, who served as Joint Lead Managers and Bookrunners. The legal aid provided by Wolf Theiss, with its team led by Partner Claus Schneider, was critical to the transaction's success, ensuring compliance with legal and tax regulations, the latter overseen by Counsel Eva Stadler. The legal details for UBM Development were handled by DLA Piper Weiss-Tessbach Rechtsanwälte.
Sectors
- Real Estate
- Banking & Capital Markets
- Legal Advisory
Geography
- Austria – UBM Development AG is an Austrian company and the green bonds are listed on the Vienna Stock Exchange.
Industry
- Real Estate – UBM Development AG operates in the real estate industry, developing various projects which can benefit from sustainable financing.
- Banking & Capital Markets – Raiffeisen Bank International and M.M. Warburg & CO, involved as Joint Lead Managers and Bookrunners, are key players in the Banking & Capital Markets industry.
- Legal Advisory – Wolf Theiss and DLA Piper Weiss-Tessbach Rechtsanwälte provided critical legal advisory services for the bond issuance.
Financials
- €93,000,000 – The total issuance amount of the green bonds.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| UBM Development AG | Target Company | Company | An Austrian real estate developer issuing green bonds. |
| Raiffeisen Bank International AG | Joint Lead Manager and Bookrunner | Company | Responsible for managing the bond exchange offer and placement. |
| M.M. Warburg & CO | Joint Lead Manager and Bookrunner | Company | Responsible for managing the bond exchange offer and placement. |
| Wolf Theiss | Legal Advisor | Company | Provided legal advice for the bond issuance. |
| DLA Piper Weiss-Tessbach Rechtsanwälte | Legal Advisor | Company | Advised UBM Development AG on the transaction. |