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CMS advises banking syndicate on the issuance of EUR 750,000,000 Additional Tier 1 Notes by Erste Group Bank AG


CMS advised an international banking syndicate comprising BofA Securities, BNP Paribas, Erste Group, Goldman Sachs International, JP Morgan and UBS as Joint Lead Managers on the successful issuance of 750,000,000 Undated Fixed to Fixed Resettable Notes (Additional Tier 1 Notes) by Vienna based Erste Group Bank AG (Closing: 23 November 2020). The Notes were issued as a drawdown under Erste Group's Additional Tier 1 Notes Programme and are listed on the Vienna Stock Exchange. Different from previous transactions of this type, the Notes are entirely governed by Austrian law.

The Joint Lead Managers were advised by CMS, the Issuer was advised by Wolf Theiss. As with previous regulatory capital transactions, the CMS team was led by Partner Walter Gapp, supported by Philipp Mark (both Capital Markets).

The Austrian DCM practice of CMS advises investment banks as well as issuers on national and international capital market transactions with a focus on bonds, issuance programmes and regulatory matters.

Related people

Portrait ofWalter Gapp
Walter Gapp
Portrait ofPhilipp Mark, Rechtsanwalt bei CMS
Philipp Mark