Starting news article english 31 January 2012

Clifford Chance advises consortium of banks on the issue of two bonds by the Republic of Austria

Clifford Chance advised a consortium of banks, led by the joint lead managers Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley and Raiffeisen Bank International on the issue and listing of two syndicated bonds by the Republic of Austria.

The bonds have a term of ten years and, for the first time, a term of 50 years. The ten-year bond has a volume of 3 bn EUR and an annual coupon of 3.4 %. The 50-year bond has a volume of 2 bn EUR and a coupon of 3.8 % p.a.

Clifford Chance regularly advises banks and issuers on debt issues of supranational organisations, sovereigns, sub-sovereigns and government agencies, e.g. the European Financial Stability Facility (EFSF).

The Clifford Chance team included partner Sebastian Maerker, senior associate Robert Koller and associate Manuela Buffone (all Banking & Capital Markets, Frankfurt) as well as partner Cedric Burford and associate Marie-Caroline Schwartz (both Banking & Capital Markets, Paris).