CERHA HEMPEL advised VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe (VIG) on the tender offers for its outstanding EUR 214.4 million Subordinated Notes due in March 2046 (ISIN: AT0000A1D5E1) and its EUR 200 million Subordinated Notes due in April 2047 (ISIN: AT0000A1VGA1).

The tender offer commenced on 25 March 2025 and was based on the terms and conditions of a tender offer memorandum dated the same day. Tier 2 notes totalling EUR 126 million were validly tendered, all of which were accepted for purchase by VIG. Settlement took place on 7 April 2025.

In parallel, VIENNA INSURANCE GROUP AG successfully placed Tier 2 notes with a volume of EUR 300 million and a maturity of ten years with institutional investors and eligible counter-parties. They carry an initial coupon of 4.625% p.a., are denominated in tranches of EUR 100,000, and are listed on the Official Market of the Vienna Stock Exchange. Signing took place on 31 March 2025 and closing on 2 April 2025.

The banking syndicate was advised by Linklaters LLP as structuring counsel and WOLF THEISS on Austrian law.

The team at CERHA HEMPEL consisted of partners Volker Glas, Thomas Zivny, senior counsel Christian Aichinger and associate Sophie Schmid.

CERHA HEMPEL
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