DLA Piper advises UBM on issuance of EUR 75 million Green Bond

DLA Piper has advised longstanding client UBM Development AG on the successful placement of its next Green Bond worth EUR 75 million. All proceeds from this green bond issue will be allocated to sustainability-based financing. This successful placement continues DLA Piper’s advisory role that was instrumental in the issuance of UBM’s first Green Bond in July 2023, another Green Bond in October 2024 and the subsequent first Green Hybrid Bond in May 2025. A highlight in this latest Green Bond issue is the strong acceptance of the accompanying exchange offer for two earlier bonds from 2019 and 2021, with a total exchange rate of 45 percent, being at the upper end of historical benchmarks, leading to a significant reduction in the repayment value of these two UBM bonds.

UBM Development is one of Europe´s leading developers of timber construction projects. The strategic focus is on green and smart building in metropolitan areas like Vienna, Munich, Frankfurt and Prague. Platinum from EcoVadis and Prime Status from ISS ESG confirm the consequent focus on sustainability. With over 150 years of experience, UBM offers all development services from a single source, from planning to marketing. UBM’s shares are listed on the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.

Raiffeisen Bank International AG served as the sole global coordinator and paying agent and, together with Montega Markets GmbH, also as joint lead manager and joint bookrunner.

The experienced capital markets team from DLA Piper’s Vienna-based Corporate practice worked on the transaction led by partner Dr. Christian Temmel, MBA, and counsel Dr. Christian Knauder-Sima.

Raiffeisen Bank International AG and Montega Markets GmbH were advised by the Wolf Theiss Capital Markets team (led by Dr Claus Schneider, LL.M., Nikolaus Dinhof-Renezeder, LL.M., and Mag. Sebastian Prakljacic).

Dr. Christian Temmel, MBA, said: “We are pleased to have once again successfully advised UBM Development AG on a Green Bond issuance. The fact that 100 percent of the proceeds from the new bond are allocated to sustainable projects underscores UBM’s consistent ESG strategy and demonstrates how capital market instruments can be effectively used to promote sustainability.”