Hogan Lovells advises Raiffeisenlandesbank Niederösterreich-Wien AG on a public tender offer

Led by Frankfurt-based partner Jochen Seitz international law firm Hogan Lovells advised as the Issuer's Counsel Raiffeisenlandesbank Niederösterreich-Wien AG (RLB NÖ-Wien) on their public tender offer for EUR 300,000,000 5.875% Subordinated Notes (ISIN: XS0997355036) due in November 2023. The transaction was completed on 13 September 2019.


After the offer period ended on 10 September 2019, investors from RLB NÖ-Wien tendered notes with a principal amount of around EUR 33,200,000. The purchase price per note amounted to EUR 115,349 plus accrued interest of EUR 4,667.81 per note. The public tender offer was part of RLB NÖ-Wien's efforts to optimise its own funds base. The notes qualify as so-called "tier 2" notes and, pursuant to articles 77 and 78 of Regulation (EU) No 575/2013 (Capital Requirements Regulation – CRR), the public tender offer was therefore subject to prior approval by the Austrian Financial Market Authority.

Joint Dealer Managers for the transaction were Crédit Agricole Corporate and Investment Bank and J.P. Morgan Securities plc. Lucid Issuer Services Limited acted as Tender Agent.

Hogan Lovells regularly advises RLB NÖ-Wien in connection with the issuance of notes and issuances under its Debt Issuance Programme (DIP).

Hogan Lovells Team for Raiffeisenlandesbank Niederösterreich-Wien AG:

Dr Jochen Seitz (Partner, Frankfurt), Andrew Carey (Partner, London), Dr Stefan Schrewe (Associate, Frankfurt), Frank Salzgeber (Associate, Frankfurt) (all International Debt Capital Markets).


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