Schoenherr advised an international banking consortium comprising Commerzbank Ak-tiengesellschaft (technical lead), Barclays Bank plc, Crédit Agricole CIB and CaixaBank SA as Joint Lead Managers on the successful issuance of a EUR 500 million fixed-rate mortgage covered bond (Pfandbrief) by Vienna-based Erste Group Bank AG (closing date: 9 September 2015). The bond was placed with institutional investors and listed on the Second Regulated Market of the Vienna Stock Exchange.

As with previous transactions of this type, the Schoenherr team was led by Walter Gapp (partner, Financial Services Regulatory), who was supported by attorney-at-law Stefan Paulmayer.

The banking consortium was advised on German law matters (the bonds being governed by German law except for their status clause) by Allen & Overy's Frankfurt practice (partner Christoph Enderstein and associate Sandra Ziener), the Issuer was advised by Wolf Theiss.