Schoenherr, working with Linklaters, has advised joint ESG structuring agents Barclays and JP Morgan and joint bookrunners BofA Securities, Raiffeisen Bank International, and Santander CIB on Verbund's EUR 500 million issuance of 3.25% green bonds due 2031. Binder Groesswang, working with White & Case, advised Verbund.
Verbund is an Austrian electricity company. The notes were placed with institutional investors, have a denomination of EUR 100,000 each, and are listed on the regulated market of the Luxembourg Stock Exchange and on the Official Market of the Vienna Stock Exchange.
According to Schoenherr, "an amount equal to the net proceeds from the issuance will be used to wholly or partially finance or refinance certain eligible green projects in line with the Verbund Green Financing Framework. Verbund intends to use approximately 90% of the proceeds to finance the construction of the Austrian Power Grid Salzburg line and the other 10% to finance its Riverscape Lower Inn and Blue Belt Danube-Inn projects.
The Schoenherr team included Partner Christoph Moser, Attorney at Law Angelika Fischer, and Associates Daniel Gritsch and Clemens Stockhammer.
The Binder Groesswang team included Partner Emanuel Welten and Counsel Philipp Tagwerker.
