Global law firm White & Case LLP has advised joint bookrunners and joint lead managers Jefferies and M.M.Warburg & CO on the placement of the debut ESG-linked hybrid bond issue by Vossloh Aktiengesellschaft in the aggregate principal amount of €150 million.
The perpetual notes have an initial fixed coupon of 4.0% and a denomination of €100,000. It is intended to admit the notes to trading on the Open Market of the Frankfurt Stock Exchange. The terms and conditions of the notes include an innovative ESG-linked mechanism: if two of Vossloh Aktiengesellschaft’s ESG ratings either fall below specified thresholds or are withdrawn, the redemption amount per note is increased by €100.
The White & Case team in Frankfurt which advised on the transaction included partner Karsten Wöckener, local partner Peter Becker and associate Philipp Kronenbitter.
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