Freshfields advises bank consortium on inaugural Wintershall Dea bond issue
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) advised the bank consortium on Wintershall Dea’s successful inaugural bond issue. Four tranches of bonds listed on the Euro MTF market of the Luxembourg Stock Exchange, with a total issue volume of €4bn placed. According to Wintershall Dea, this is the largest bond offering by a first-time issuer.
The four tranches of €1bn each were issued with maturities until 2023, 2025, 2028 and 2031 respectively. The coupons range from 0.452 per cent to 1.823 per cent. Moody's rates the bonds ‘Baa2’ and Fitch ‘BBB’.
Freshfields advised the banking syndicate consisting of Barclays, Bank of America Merrill Lynch, J.P. Morgan and Société Générale as well as the other Joint Bookrunners Citigroup, Commerzbank, Crédit Agricole CIB, Credit Suisse, Deutsche Bank, Goldman Sachs International, HSBC, ING, Mizuho Securities, Morgan Stanley, MUFG and UniCredit Bank. Freshfields also advised BASF and Wintershall on the merger with Dea prior to the offering.
The cross-border Freshfields team was led by partners Simone Bono and Rick van Aerssen.
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