Clifford Chance advised a syndicate of international banks in connection with the EUR 100 million hybrid bond issuance of UBM Development Aktiengesellschaft.

UBM is a leading hotel developer in Europe and headquartered in Vienna, Austria. The bonds consist of Undated Resettable Fixed Rate Subordinated Notes with a first call date in March 2023. The notes are listed on the Official Market of the Vienna Stock Exchange.

The Clifford Chance team comprised partners Dr. George Hacket and Sebastian Maerker as well as associate Andrei Manea (all Banking & Capital Markets, Frankfurt).