DLA Piper has advised construction company PORR on a 50 million euro corporate bond. Capital markets specialist Christian Temmel, partner at DLA Piper Weiss-Tessbach, acted as leading transaction counsel, alongside Frankfurt partner Nina-Luisa Siedler and senior associate Petra Reinholz.

The offer was addressed to both private and institutional investors in Austria, Germany and Luxembourg. As a result of high interest, the subscription period of the bond was terminated on the second day of the offer period. Admission date to the Second Regulated Market of the Vienna Stock Exchange was 26 November 2013.

The Investment Bank Steubing AG acted as sole global coordinator and sole global bookrunner. Due to the strong focus on the German market, the bonds were issued under German law.

"We are very pleased that we were able to advise our long-standing client PORR on this exciting capital market transaction," said Christian Temmel. "A successful placement of a bond in such a short timeframe and in spite of a difficult environment, is always a particular confirmation to the issuing company.

"This was one of the few bond issues of an Austrian listed company carried out under German law. Together with our German colleagues, with whom we have previously advised PORR in regards to a bond issue last year, we were able to complete this transaction very smoothly."