8 April 2020

OMV is producing and marketing oil & gas, innovative energy and high-end petrochemical solutions. With Group sales of EUR 23.5 bn in 2019 and a workforce of almost 20,000 employees as of end 2019, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies.

The bond issue in an aggregate volume of EUR 1.75 bn includes the issue of three tranches as of 9 April 2020. Two tranches have a volume of EUR 500 mn each, one with a four-year term (2024) and the other one with an eight-year term (2028). The third tranche comprises a volume of EUR 750 mn and a term of twelve years (2032). The bonds are governed by German law and are issued on the basis of OMV's EUR 8 bn debt issue programme (EMTN). They will be admitted to trading on the Official Market of the Vienna Stock Exchange and the regulated market of the Luxembourg Stock Exchange. The transaction is the highest-volume multi-tranche corporate bonds issue of all time by an Austrian issuer in relation to a listing on the Vienna Stock Exchange. Net proceeds are in particular to be used for the financing of the acquisition of an additional 39% stake in Borealis AG.

Barclays, Credit Agricole, MUFG Securities, Societe Generale and UniCredit acted as Joint Lead Managers under the bond issue. They were advised by White & Case LLP (Frankfurt am Main) led by Partner Karsten Wöckener.

Already in December 2018 and July 2019, OMV AG successfully issued multi-tranche bonds in a volume of EUR 1 bn each. Weber & Co. had advised as legal adviser to the issuer also on these transactions.

Christoph Moser, partner of Weber & Co., who headed the team advising OMV: "We are very pleased that OMV relied on our expertise in relation to this outstanding corporate bond issue. The successful bond issue in turbulent times of the Covid-19 crisis shows the high level of trust OMV enjoys among investors. We congratulate the issuer and the joint lead managers."

Transaction team Weber & Co.: Christoph Moser (partner, lead), Stefan Weber (partner), Angelika Fischer (associate).