Freshfields Advised On €650m Notes Issue Of Raiffeisen Bank
Freshfields Advised On €650m Notes Issue Of Raiffeisen Bank
Global law firm Freshfields has once again advised a syndicate of leading financial institutions on the €650m issuance of Additional Tier 1 capital instruments (AT1 notes) by Raiffeisen Bank International AG. The group of banks includes BofA Securities, Citigroup, Crédit Agricole CIB, Raiffeisen Bank International AG und UBS Investment Bank and UniCredit as Joint Lead Managers. With this transaction, Freshfields continued to advise the syndicate of banks, which it had previously advised on successful AT1 notes issuances of Raiffeisen Bank in November 2024 and September 2025.
The new AT1 notes, which further strengthen the regulatory capital of one of Austria's leading banks, were placed with institutional investors. The AT1 notes were admitted to the regulated market of the Luxembourg Stock Exchange on 20 January 2026. Citibank Europe Plc acts as Principal Paying Agent and Calculation Agent.
In addition, Freshfields advised a syndicate of leading financial institutions on a tender offer by Raiffeisen Bank International for its outstanding €500m AT1 notes from 2020. The tender offer enabled noteholders to sell their notes to the issuer Raiffeisen Bank International at a purchase price of 101.20%. The buyback was settled on 23 January 2026. Following Raiffeisen Bank International’s tender offers for outstanding AT1 notes in November 2024 and September 2025, this was the third tender offer on which the Dealer Managers relied on advice from Freshfields.
The Freshfields team was led by Stephan Pachinger (Partner), and Christoph Gleske (Partner). The team also included Birgit Schulz (Principal Associate), and Benedikt Graf (Associate), and Sidar Yaylagül (Associate).
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