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14 July 20232 minute read

DLA Piper advises on EUR50 million Green Bond issue

DLA Piper has advised the European Real Estate organisation, UBM Development AG, on the successful placement of the 7% UBM Green Bond 2023-2027 with a nominal value of EUR50 million. The UBM Green Bond 2023 was offered in for subcription in Austria, Germany, and Luxembourg through a public offer with prospectus, and in other countries through private placement. UBM Development AG had earlier issued a senior bond alongside a hybrid bond in 2021, with both carrying sustainability references (ESG-linked).

UBM Development AG, listed on the Vienna Stock Exchange, is one of Europe’s leading developers of timber construction projects, placing strategic focus on green buildings and smart offices in Frankfurt, Munich, Prague, and Vienna.

A team from DLA Piper’s Vienna office worked on the transaction, and was led by Corporate partner Christian Temmel. He was supported by counsel Christian Knauder-Sima.

Christian commented: "We are proud to have advised UBM Development on this innovative bond issuance. The innovative structure of this bond with a clear focus on sustainability is in tune with the global conversation on a greener economy and the bond's success, despite current market difficulties, clearly confirms the confidence of investors in UBM Development's strategy."

Raiffeisen Bank International AG acted as Global Coordinator & Sustainability Structuring Agent for the transaction. Raiffeisen Bank International AG and M.M. Warburg & CO were mandated as joint lead managers, bookrunners and dealer managers of the transaction. The banking side was managed by Wolf Theiss (Claus Schneider).