Austria: Schoenherr advises ASFINAG on dual issuance of EUR 1bln Guaranteed Notes and EUR 500m Guaranteed Notes
Summary
Schoenherr advised Autobahnen- und Schnellstra\xdfen-Finanzierungs-Aktiengesellschaft (ASFINAG) on its successful issuance of EUR 1bln 3.125 % Guaranteed Notes due 23 January 2036 and EUR 500m 2.500 % Guaranteed Notes due 25 March 2030, both guaranteed by the Republic of Austria. Barclays, Cr\xe9dit Agricole CIB, DZ BANK, Erste Group, Goldman Sachs Bank Europe SE, Raiffeisen Bank International and UniCredit acted as managers on this transaction.The Austrian law governed notes have a denomination of EUR 100,000 each and were placed with institutional investors. They are admitted to trading on the Official Market (Amtlicher Handel) of the Vienna Stock Exchange as well as the regulated market of the Luxembourg Stock Exchange and are rated AA+ by Standard & Poors and Aa1 by Moodys, placing them on the same level as the Austrian sovereign guaranteeing the issuances. "We are delighted to have supported ASFINAG once again on a successful benchmark dual notes issuance, which attracted strong demand from investors and achieved favourable pricing," said partner Ursula Rath, who led the team on this transaction.ASFINAG is a federal agency wholly owned by the Republic of Austria, and the toll operator responsible for the operation, planning and financing of Austrias motorways and expressways.The Schoenherr team was led by Ursula Rath (partner) and Christian Cacic (attorney at law), who were supported by Maximilian Nusser (associate), Hanno Wollmann (partner) and Marco Thorbauer (partner).The managers were advised by Linklaters LLP, Frankfurt am Main, as international counsel, and by BINDER GR\xd6SSWANG Rechtsanw\xe4lte GmbH on Austrian law.