Linklaters has advised the banking consortium on the successful placement of a hybrid convertible bond issued by PORR AG with a volume of €150m. PORR is one of Austria’s leading construction companies. BofA Securities, Raiffeisen Bank International in coop-eration with ODDO BHF, and UniCredit acted as Joint Global Coordinators and Bookrunners on the transaction.
The company intends to use the net proceeds from the issuance of the bond to in-crease its financial flexibility to accelerate organic and/or inorganic growth and for gen-eral corporate purposes.
An application will be made for the admission of the bond to trading on the Vienna MTF market of the Vienna Stock Exchange. Settlement of the transaction is expected to take place on 30 September 2026.
Linklaters advised with a team led by partner Alexander Schlee, together with managing associate Catrin Retzmann and associate Tim Westenberger(all Capital Markets, Frankfurt).
Linklaters regularly advises corporates and investment banks on the issuance of ex-changeable and convertible bonds. Over the past year, the Capital Markets team led by Alexander Schlee has advised, among others, AIXTRON SE, Deutsche Börse AG, QIAGEN N.V., Salzgitter AG, TAG Immobilien AG and Vonovia SE on the issuance of convertible and exchangeable bonds, as well as banking syndicates on the issuance of convertible bonds by AT&S, Evotec SE, K+S, Lufthansa AG, MTU Aero Engines AG and Redcare Pharmacy N.V.
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