DLA Piper advises UBM on the placement of its second Green Bond

DLA Piper has advised UBM Development AG on the successful issuance of a second green bond with a nominal value of EUR93.000.000. The UBM Green Bond 2024 was offered in Austria, Germany, and Luxembourg by way of a public offer with prospectus and in other countries through a private placement for subscription. Earlier in July 2023, DLA Piper had advised UBM on the placement of its first green bond aimed at retail customers. The volume of this 2024 green bond is nearly double that of the one issued the previous year. The framework for issuing such sustainable financing instruments and the criteria for the use of proceeds are governed by UBM's Green Finance Framework.

UBM Development is one of Europe´s leading developers of timber construction projects, with a strategic focus on green and smart buildings in metropolitan areas like Vienna, Munich, Frankfurt and Prague. UBM holds a Platinum rating from EcoVadis and Prime Status from ISS ESG, underscoring its focus on sustainability.

Raiffeisen Bank International AG was the global coordinator and paying agent for the transaction, and Raiffeisen Bank International AG and M.M. Warburg & CO served as the joint lead managers, bookrunners and dealer managers.

A team from DLA Piper's Vienna-based capital markets team worked on the transaction and was led by Corporate partner Dr. Christian Temmel, MBA, and counsel Dr. Christian Knauder-Sima.