Saturday, 15 March 2025
Law firms Schoenherr and Wolf Theiss have provided legal counsel on Erste Group Bank’s successful issuance of EUR 1 billion in 3% mortgage Pfandbriefe, due in 2032. Schoenherr represented the banking consortium involved, while Wolf Theiss advised Erste Group Bank directly on the transaction.
The issuance, completed on January 20, 2025, forms part of Erste Group’s covered bonds program and was targeted at professional clients and eligible counterparties. The notes, which hold an Aaa rating from Moody’s, are listed on the Official Market of the Vienna Stock Exchange. With a denomination of EUR 100,000 each, the notes are set to mature in April 2032.
The banking consortium that facilitated the transaction included major financial institutions such as BayernLB, BMO Capital Markets, DekaBank, DZ Bank, Erste Group, Landesbank Baden-Wuerttemberg, and UniCredit, which acted as joint lead managers, as well as La Banque Postale, which participated as a co-lead manager.
Schoenherr’s legal team for the issuance was led by Partner Christoph Moser, with support from Attorneys at Law Angelika Fischer and Christian Cacic, and Paralegal Clemens Stockhammer. Wolf Theiss fielded a team comprising Partner Claus Schneider, Counsel Eva Stadler, Senior Associate Sebastian Prakljacic, Associates Rainer Holweg and Magdalena Bertsch, and Legal Trainee Negar Hashemi.
The transaction highlights Erste Group’s robust position in the European financial market and its continued focus on providing secure, high-quality investment products through its covered bonds program.
