Clifford Chance has advised a banking consortium including Commerzbank, Credit Suisse, J.P. Morgan, Merrill Lynch International, Société Générale and UniCredit Bank on a bond issued by Vonovia Finance B.V. with a total volume of EUR 3 billion.

The bond guaranteed by Vonovia SE consists of three tranches: a two-year tranche with variable interest with a volume of EUR 750 million, a five-year tranche with a volume of EUR 1.25 billion and a coupon of 1.625% as well as an eight-year tranche with a volume of EUR 1 billion and a coupon of 2.25%. It is the largest Euro bond issue by a real property company.

The net proceeds of the bond will be used by Vonovia for general business purposes and/or for the financing of acquisitions.  

The Clifford Chance team was led by partner Sebastian Maerker and comprised counsel Dr. Felix Biedermann and associate Dr. Peter Becker (all Banking & Capital Markets, Frankfurt).