UBM Development AG’s €100 million hybrid bond offering


Clifford Chance advised a syndicate of international banks in connection with the EUR 100 million hybrid bond issuance of UBM Development Aktiengesellschaft.

UBM Development is a leading hotel developer in Europe. Its strategic focus is on the three clearly defined asset classes Hotel, Office and Residential, in the three core markets Germany, Austria and Poland. With 145 years of experience, UBM concentrates on its core competence, the development of real estate. The Group acts as a one-stop provider for everything from planning all the way to the marketing of the property..

The bonds consist of Undated Resettable Fixed Rate Subordinated Notes with a first call date in March 2023. The notes are listed on the Official Market of the Vienna Stock Exchange.

HSBC Bank plc was mandated as sole structuring advisor. HSBC Bank plc and Raiffeisen Bank International AG will act as joint lead managers and joint bookrunners.

The Clifford Chance team comprised partners Dr. George Hacket (picture) and Sebastian Maerker as well as associate Andrei Manea (all Banking & Capital Markets).

Involved fees earner: George Hacket – Clifford Chance; Sebastian Maerker – Clifford Chance; Andrei Manea – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Hsbc Bank plc; Raiffeisen Bank;