Ashurst advised an international banking consortium comprising Barclays Bank PLC (technical lead), Commerzbank Aktiengesellschaft and HSBC Bank plc on the successful issuance of a €500 million bond by Erste Group Bank AG ("Erste Group"). The bond was issued unter Erste Group's newly established debt issuance programme for bonds ("Debt Issuance Programme") and placed with institutional investors.

Prior to this transaction Ashurst had acted for Barclays Bank PLC as arranger in relation to the establishment of the Debt Issuance Programme.

The Ashurst team was led by Frankfurt-based partner Christoph Enderstein, supported by associates Susi Pak and Christian Pieper (all Debt Capital Markets/DCM).

The German DCM practice of Ashurst advises both investment banks and issuers in connection with national and international capital market transactions, in particular regarding bonds, securitised derivatives, German Schuldschein loans and debt issuance programmes as well as on related regulatory matters.

According to a survey carried out by financial services information provider Thomson Reuters, the DCM team headed by Christoph Enderstein was the most active legal adviser in 2012 in connection with bond issues in Germany.