KWR Karasek Wietrzyk Rechtsanwälte GmbH has advised listed PORR AG, one of the 100 global leading construction companies, as issuer's counsel on the successful issue of its first Hybrid Convertible Bond.
The Hybrid Convertible Bond in the nominal amount of EUR 150 million was offered to institutional investors by way of an Accelerated Bookbuilding (Reg S only) which took place on 22 September 2026.
At the same time, a Concurrent Accelerated Bookbuilding was conducted in the course of which existing shares of PORR AG were sold on behalf of certain subscribers of the Hybrid Convertible Bond who wished to sell such shares in short sales to purchasers procured by the Joint Global Coordinators and Bookrunners in order to hedge the market risk.
On KWR’s side, the transaction was led by Christian Temmel and Christian Knauder-Sima, both partners in KWR’s capital markets team. “It was a pleasure to advise our client PORR AG on this unique and complex transaction. The strong investor demand is a clear indication of PORR’s outstanding position in the European construction industry”, said Christian Temmel.
BofA Securities, Raiffeisen Bank International in cooperation with ODDO BHF and UniCredit acted as Joint Global Coordinators and Bookrunners in relation to this transaction.
The Joint Global Coordinators and Bookrunners in the transaction were advised by DORDA Rechtsanwälte, Vienna (Tibor Varga) and Linklaters, Frankfurt (Alexander Schlee (lead), Catrin Retzmann).
Lilja & Co, headed by Kai Lutrov, acted as financial adviser to PORR AG.