Global law firm White & Case LLP has advised the banking consortium consisting of J.P. Morgan, MUFG, BofA Securities, Erste Group, ING, LBBW and SMBC on OMV Aktiengesellschaft´s (OMV) €750 million unsecured hybrid bond issuance.
The hybrid bond initially has an interest rate of 4.3702% per annum and has no scheduled maturity date. An initial early redemption by the issuer is possible after 5.5 years.
The hybrid bond is a subordinated form of financing that, due to its perpetual term, is evaluated by rating agencies with 50% equity credit and will contribute to further strengthening the rating profile of OMV. The Issuer intends to use the net proceeds for upcoming re-financing requirements, as well as general corporate purposes.
The hybrid bond was admitted to trading on the regulated market of the Luxembourg Stock Exchange and on the regulated market of the Vienna Stock Exchange.
Following the Lufthansa hybrid bond, this is the second hybrid bond transaction in the German-speaking region in 2025 that White & Case has advised on, either on the issuer or on the bankside.
The White & Case team in Frankfurt which advised on the transaction was led by partner Karsten Wöckener and included local partners Felix Biedermann and Peter Becker, counsels Alexander Born and David Santoro and associates Darleen Stöckl and Domenik Mack.
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Read the orginal article: https://www.whitecase.com/news/press-release/white-case-advises-bank-syndicate-omvs-eu750-million-hybrid-bond-issuance
