Erste Group successfully placed a subordinated bond (tier 2) with a volume of USD 500 million to institutional investors. They were advised by the law firm Wolf Theiss.

Due to the structure of the notes, Erste Group can account the issue as supplementary capital (tier 2). The notes provide for an ongoing interest adjustment after five and a half years which will take place if the notes are not redeemed by Erste Group at this time.

Erste Group was advised by the international law firm Wolf Theiss under the lead of Banking & Finance partner Claus Schneider and counsel Alexander Haas. The banking consortium consists of Société Générale (technical lead), Credit Suisse Securities (Europe) Limited, J.P. Morgan Securities plc and Nomura International plc and were supported by the German DCM-practice of Ashurst under the lead of partner Christoph Enderstein and Schönherr Attorneys-at-law in Vienna.