Linklaters advises Vonovia on the issue of bonds with a total value of three billion euros

Linklaters advised Vonovia on the issue of bonds with a total value of three billion euros. The Eurobonds were issued in three instalments. The coupons have an average interest rate of 1.69 per cent per year and an average maturity of over five years. This transaction marks the largest Eurobond issue in the real estate market to date.

The proceeds from the bond issue will be used for general corporate purposes and to reduce the bridge loan obtained to finance the cash component of the take-over offer for Deutsche Wohnen.

It was only in March 2015 that the same team advised Vonovia on the issue of bonds with a volume of 1 billion euros.

A Linklaters team led by Dr Alexander Schlee advised on the transaction; the team also included Peter Waltz, Dr Marco Carbonare and Martin Rojahn (all Capital Markets, Frankfurt).