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Press Release

White & Case Advises Evonik Industries AG on Issuance of Inaugural Green Hybrid Bond and Tender Offer for Outstanding Hybrid Bond

Global law firm White & Case LLP has advised Evonik Industries AG on the issuance of its inaugural green subordinated resettable fixed rate notes (the Green Notes) and on the tender offer on its outstanding €500 million subordinated resettable fixed rate notes due 2077 with a first call right for Evonik in 2022.

The Green Notes have a volume of €500 million, mature in 2081 and have a first call right for Evonik in 2026. The Green Notes have been listed on the regulated market of the Luxembourg Stock Exchange. The proceeds will be used for financing or refinancing of existing and/or future green projects within the next three years.

The concurrent tender offer of Evonik Industries AG relates to its outstanding €500 million Subordinated Resettable Fixed Rate Notes due 2077 issued in 2017, which was the first issuance of a hybrid bond by Evonik Industries AG.

The White & Case team in Frankfurt that advised on the transaction was led by partners Jochen Artzinger-Bolten and Karsten Wöckener and included local partner Cristina Freudenberger and associates Florian Fraunhofer and Claire-Marie Mallad.

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