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CERHA HEMPEL has advised IMMOFINANZ AG on its successful placement of an unsubordinated, unsecured EUR 500 million benchmark bond issue.


CERHA HEMPEL advised the stock exchange listed IMMOFINANZ AG („IMMOFINANZ“) in the placement of its EUR 500 million fixed rate senior unsecured benchmark bond with a 7-year maturity and an annual coupon of 2.5%. The international rating agency Standard & Poor’s has assigned an investment grade rating of “BBB-“ to the bond. The bond was successfully placed on October 8, 2020. IMMOFINANZ intends to use the net proceeds of the bonds in particular refinance existing debt, capitalize on value creating growth opportunities, and for general corporate purposes. The issue was 2-times oversubscribed with a strong demand of more than 110 investors. The Notes have a denomination of EUR 100,000 each and are listed at the regulated market of the Luxembourg Stock Exchange and also traded at the Vienna MTF of the Vienna Stock Exchange.

The transaction was supported by Citigroup and J.P. Morgan Securities plc as Joint Global Coordinator and Joint Bookrunner as well as Credit Suisse, Deutsche Bank AG, Erste Group Bank AG and HSBC as Joint Bookrunner.

The team at CERHA HEMPEL comprised partners Dr. Volker Glas and Dr. Thomas Zivny, senior counsel MMag. Christian Aichinger and associate Mag. Mathias Drescher.