Global law firm White & Case LLP has advised BNP Paribas, J.P. Morgan, Erste Group, ING, MUFG and Société Générale Corporate & Investment Banking, as joint lead managers, on a €500 million hybrid bond issue by OMV Aktiengesellschaft (OMV) with an initial fixed interest rate and interest adjustment.
The hybrid bond has an unlimited term, an initial fixed coupon of 2.875% and is subordinated to OMV’s other financial liabilities. The hybrid bond will be admitted to trading on the regulated market of the Luxembourg Stock Exchange and the Official Market (Amtlicher Handel) of the Vienna Stock Exchange. Proceeds from the issue are intended to be used for general corporate purposes.
The White & Case team in Frankfurt which advised on the transaction was co-led by partner Karsten Wöckener and local partner Cristina Freudenberger and included partner Rebecca Emory, counsel Alexander Born and associate Philipp Kronenbitter.
The original press release can be found here on White & Case’s website.