- New, up to EUR 50m bond with four-year term and annual coupon of 7% (possible increase of up to EUR 100m)
- Exchange offer to holders of the UBM Bond 2018-2023 (ISIN: AT0000A23ST9)
- Exchange period: 14.06.-26.06.2023 / cash subscription period: 27.06.-03.07.2023
UBM Development AG (the “issuer”) is planning the issue of a new bond with a four-year term (2023-2027), an interest rate of 7% per year and a denomination of EUR 500.00. The issue volume of the UBM Green Bond 2023-2027 (“Green Bond”) is expected to total EUR 50m, with a possible increase of up to EUR 100m and will be based, above all, on the acceptance rate of the exchange offer for the UBM Bond 2018-2023. Following the closing of the exchange offer, the remainder of the Green Bond’s total nominal volume will be offered for subscription by way of a public offer with prospectus in Austria, Germany and Luxembourg and in other countries through a private placement for subscription (cash subscription offer). Interested investors can subscribe to the Green Bond from 27 June to 3 July 2023, whereby premature closing is reserved. The re-offer price will range from 99% to 100% of the nominal value of the partial debentures and will be determined by the issuer in agreement with the joint lead managers after the end of the exchange period and before the start of the cash subscription offer in accordance with the market conditions prevailing at that time.
The issuer plans to use the net proceeds for the full or partial financing and/or refinancing of new or existing suitable green projects in agreement with the UBM Green Finance Framework, which is available for review and download on the website under https://www.ubm-development.com/de/esg/. The planned value date is 10 July 2023.
Plans call for the listing of the Green Bond for official trading in the corporates prime segment of the Vienna Stock Exchange.
The transaction is subject to the approval of a prospectus by the Austrian Financial Market Authority.