CERHA HEMPEL has advised stock exchange listed CA Immobilien Anlagen AG ("CA Immo") on its EUR 500 million benchmark bond issue. CA Immo has tapped the Eurobond market for the first time and successfully placed a EUR 500 million fixed rate senior unsecured bond with a 7-year maturity and an annual coupon of 0.875% on 28 January 2020. The bond trades on the Official Market of the Vienna Stock Exchange. The international rating agency Moody’s Investors Service Ltd. has assigned an investment grade rating of Baa2 to the bond. CA Immo's long term rating is also Baa2 with stable outlook.
The bond issue was combined with a liability management transaction, a simultaneous repurchase of outstanding bonds issued by CA Immo that were soon to mature: CA Immo invited the holders of outstanding 1.875% bonds due 2021 to submit offers for the repurchase of these bonds at a purchase price of 102.55%, of 2.750% bonds due 2022 at a purchase price of 105.10%, and of 2.750% bonds due 2023 at a purchase price of 107.10%. Bonds in the aggregate face value of EUR 98.5 million (corresponding to an offer quota of 21.2%) have been offered to CA Immo. CA Immo decided to fully accept the total amount of Notes tendered. The transaction closed on February 5, 2020. The transaction was supported by J.P. Morgan acting as Sole Global Coordinator, and Erste Group, J.P. Morgan and Morgan Stanley as Joint Bookrunners. The team at CERHA HEMPEL comprised partner Dr. Volker Glas, attorney MMag. Christian Aichinger and associate Mag. Mathias Drescher.

CERHA HEMPEL
With offices in Austria, Belarus, Bulgaria, Czech Republic, Hungary, Romania and Slovakia, CERHA HEMPEL is one of Austria's largest and most renowned law firms. For more than nine decades, CERHA HEMPEL has been developing creative and groundbreaking solutions for its clients, as well as providing them with a personal service and expertise in the following areas: antitrust and competition, banking and finance, capital markets, corporate law, data protection and IT, distribution, employment law, insolvency and restructuring, IP and unfair competition, litigation and arbitration, mergers and acquisitions, private clients and trusts, private equity and venture capital, public commercial and European law, real estate and construction, tax law, and white collar crime.

CERHA HEMPEL has won numerous awards and in 2019 it was named "Austrian Law Firm of the Year" by JUVE. Furthermore, CERHA HEMPEL is a member of Lex Mundi – The World’s Leading Association of Independent Law Firms – and demonstrates its commitment to the arts as a corporate partner of the Albertina.

For more information:
Dr. Volker Glas, LL.M.
Partner
CERHA HEMPEL
Rechtsanwälte GmbH
Parkring 2, A-1010 Vienna
Tel.: +43/1/514 35-231

MMag. Edith Müller
Head of Communications
CERHA HEMPEL
Rechtsanwälte GmbH
Parkring 2, A-1010 Vienna
Tel.: +43/1/514 35-265