Allen & Overy LLP has advised Landesbank Baden-Württemberg (technical lead), Crédit Agricole Corporate and Investment Bank, Credit Suisse Securities (Europe) Limited, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main and Erste Group Bank AG as joint lead managers on all German law issues relating to the successful issue of a fixed-rate mortgage Pfandbrief with a total nominal amount of EUR 1 billion by Erste Group Bank AG.

The mortgage Pfandbrief, which pays interest at a rate of 0.75%, has been awarded Moody's highest rating of AAA, matures on 17 January 2028, is listed on the Official Market of the Vienna Stock Exchange and has been placed with international investors.

Partners Walter Gapp and Uwe Rautner of Rautner Rechtsanwälte advised the joint lead managers on aspects of Austrian law. Erste Group Bank AG was advised by Dr. Claus Schneider and associate Nikolaus Dinhof from Wolf Theiss.

The Allen & Overy team was led by partner Christoph Enderstein and comprised associate Sang-Woon Lee  (both International Capital Markets, Frankfurt).

Having already advised various banking syndicates in connection with bonds issued by Erste Group Bank AG in recent years, the Allen & Overy team has now also advised on the first mortgage Pfandbrief issue by Erste Group Bank AG this year.

The team led by Christoph Enderstein advises both issuing banks and issuers in connection with domestic and international capital market transactions, in particular on bonds, Pfandbriefe, securitised derivatives, structured notes, hybrid instruments, Schuldscheine, registered bonds and debt issuance programmes as well as all related regulatory issues.