CMS advises Best In Parking in the issuance of notes
- First debt issuance in Austria in 9 months
- 90 million Euros placed
- Trading on the second regulated market of the Vienna Stock Exchange planned
The Vienna parking garage operator Best in Parking is, for the first time, issuing a corporate bond via a financing house. CMS Vienna and CMS Rome, have been advising Best in Parking on this issuance of debt. The normal rates of interest, the total nominal value and the issuance proceeds were all published on the website of the Luxembourg Stock Exchange.
Martin Zuffer, capital market expert and partner for CMS in Vienna, was pleased to announce the following; “With this debt issuance, the Austrian capital market has put an extremely long dry spell behind it. We are very pleased that this spell is, for the moment, over and that we could provide support in the first issuance of debt in Austria in nine months. This transaction has attracted a lot of attention internationally and we hope that there will be more like this on the Austrian market in future.”
Best In Parking is advised by an international team of CMS experts. As well as the lead partner Martin Zuffer, they are also advised by Phillip Mark (attorney at law) and Stefan Führer (associate) from the capital markets law sector, Sibylle Novak (partner / tax) and Paolo Bonolis from CMS Italy. The team supports the client in the due diligence process, in the creation of prospectuses and has also been advising Best In Parking throughout the approval procedures before the Luxembourg supervisory authority and during negotiations with the banks.
Best In Parking operates a total of 130 parking garages. 73 garages are in Austria, 56 are in Italy and one is in Locarno, Switzerland. The number of parking spaces currently amounts to a good 23,000 in Austria and 36,000 in Italy.
You can find a photo of Martin Zuffer to download by following this link http://sites.cms-rrh.com/downloads/zuffer_martin.jpg.