Erste Group gets 1.5 billion euros: the law firms

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Wien. Wolf Theiss and Schönherr are advising Erste Group on two mortgage Pfandbrief issues, each worth EUR 750 million.

Specifically, Wolf Theiss advises Erste Group Bank AG as the issuer on the issues of

  • Euro 750,000,000 0.01% Mortgage Covered Bonds due 2028
  • Euro 750,000,000 0.50% Mortgage Bonds due 2037

Erste Group Bank has successfully returned to the market for covered bonds for the first time since January 2020. The covered bonds with a coupon of 0.01% per annum and 0.50% per annum have a term of six and a half and fifteen years respectively and were placed with professional customers and suitable counterparties (denomination EUR 100,000, rating Aaa from Moody’s). The securities are listed on the Official Market of the Vienna Stock Exchange. The closing took place on January 12, 2022.

Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, DekaBank Deutsche Girozentrale, DZ Bank Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Erste Group Bank, ING Bank NV, Landesbank Baden- Württemberg, Landesbank Hessen-Thüringen Girozentrale and UniCredit as joint lead manager and HYPO NOE Landesbank for Lower Austria and Vienna as co-lead manager.

The Advisory Teams

  • The Schönherr team for the banking syndicate consisted of Christoph Moser (lead partner), Angelika Fischer (trainee) and Hubertus Forsthuber.
  • The Wolf Theiss team for Erste Group Bank included Partner Claus Schneider, Senior Associate Nikolaus Dinhof-Renezeder and Associate Dominik Thill (all Debt Capital Markets) and Counsel Eva Stadler (Tax).

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