Allen & Overy LLP has advised TUI AG on the successful EUR 300 million bond issue. The corporate bond with a maturity of 5 years, a coupon of 2.125% and a yield of 2.250 % was several times oversubscribed. The proceeds are used for general corporate purposes including the refinancing of the outstanding EUR 300 million 4.500% bond issued in 2014.

The current bond is being guaranteed by several subsidiaries of TUI AG in Germany, Great Britain, Belgium, the Netherlands and Sweden. The bank syndicate financing the transaction comprised Commerzbank Aktiengesellschaft, Deutsche Bank AG, HSBC Bank PLC and Société Générale CIB.

The Allen & Overy team comprised partners Christoph Enderstein (lead, International Capital Markets), Marc O. Plepelits (US Corporate Finance), Wolfgang Melzer (Banking, all Frankfurt), Stephen Mathews (Corporate, London), Dr. Heike Weber, Counsel Klaus D. Hahne (both Tax), senior associates Simon Weiß (International Capital Markets), Martin Schmidt (US Corporate Finance), Frederik Jahn, Christopher Jahnke (both Banking), Dr. Katharina Stüber (Corporate) as well as the associates Nadine Kämper and Sandra Ziener (both International Capital Markets, all Frankfurt).

The team also comprised lawyers from Allen & Overy offices in London, Amsterdam, and Brussels.

The Debt Capital Markets team led by Frankfurt partner Christoph Enderstein regularly advises both issuers and investment banks 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.