Vienna - DLA Piper has advised UBM Development AG on the issuance of a EUR 100 million hybrid bond. This was the first hybrid bond to be issued by UBM, an international real estate development company. Vienna partner and capital markets specialist Christian Temmel led the team.

Christian Temmel said: "Since the beginning of 2017, we have noticed a rising demand for hybrid bonds. Investors are increasingly willing to assess the risk of subordination in relation to the reliability of the issuer and the attractive terms, and then incorporate them in their estimates. This is also confirmed by the fact that the placement of UBM's hybrid bond was successfully completed within a few hours. We are very pleased that we were able to support UBM again in this financing measure."