DLA Piper advises UBM on additional sustainability-linked bond

DLA Piper advised UBM Development AG on the successful placement of a sustainability-linked bond. This follows its first sustainability-linked bond aimed at retail clients, which was issued in May with a total value of EUR150 million.

The latest hybrid sustainability bond issue had a value of EUR100 million. Part of a former hybrid bond issued in 2018 was also exchanged for the newly issued hybrid bond. HSBC Continental Europe and Raiffeisen Bank International AG acted as joint lead managers, bookrunners and dealer managers for the transaction.

UBM Development's strategic focus is on green building and smart office in major cities including Vienna, Berlin, Munich and Frankfurt. The company offers all development services from a single source, from planning to marketing. The shares are listed on the Prime Market of the Vienna Stock Exchange.

On the issuer side, the transaction was supported by DLA Piper's experienced capital markets team led by partner Dr. Christian Temmel and senior associate Dr. Christian Knauder.

Dr. Christian Temmel, partner and head of the capital markets practice at DLA Piper in Vienna, commented “We are very pleased that we were once again able to provide legal advice to UBM Development in connection with a bond issue. The innovative structure of the bond, with its focus on sustainability, is exactly in line with the spirit of the times, and the enormous success is a confirmation of investors' confidence in our client's strategy.” says .