CMS advises Best In Parking on the issuance of its corporate bond
- First debt issuance in Austria since 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 one of its subsidiary. CMS Vienna, and CMS Rome, have been advising Best in Parking on this issuance of this corporate bond. The interest of the bond is 3.375 % and the total nominal value amounted to 90 million Euro.
Martin Zuffer, capital market expert and partner of CMS Vienna, was pleased to announce the following; “With this corporate bond, 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 a corporate bond in Austria since nine months. This transaction has attracted a lot of attention internationally and we hope that there will be more like this in the Austrian market in the next future.”
Best In Parking has been advised by an international team of CMS experts. The CMS team included Martin Zuffer as lead partner, Phillip Mark (attorney at law) and Stefan Führer (associate) from the capital markets law practice, Sibylle Novak (partner / tax) and Paolo Bonolis (partner /capital markets) from CMS Italy. The team supported Best In Parking in the due diligence process, drawing up of the prospectus, the approval procedure with the Luxembourg supervisory authority and the negotiations with the engaged lead managers.
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 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.