Hengeler Mueller advises banks on the issuance of a hybrid bond by Württembergische Lebensversicherung AG and an early repurchase offer of the outstanding 20NC10-Subordinated Notes
11. June 2014
Hengeler Mueller has advised Deutsche Bank AG, London Branch and UniCredit Bank AG with respect to the issuance by Württembergische Lebensversicherung AG of a hybrid bond in the aggregate principal amount of EUR 250 m (ISIN: XS1064049767) and a repurchase offer regarding the outstanding 20NC10-Subordinated Notes (ISIN Code: XS0244204003). The decision regarding the repurchase offer was conditional upon the issue of the new hybrid bond.
Württembergische Lebensversicherung AG intends to use the proceeds of the bond issuance to strengthen its solvency capital with respect to future regulatory capital requirements and for general corporate purposes.
The Hengeler Mueller team was led by both partner Hendrik Haag and counsel Bianka Bielecke (both Banking and Capital Markets) and included associates Julia Weidner as well as Lisa Friedsam. Württembergische Lebensversicherung AG was advised by Thilo Grutschnig and Alexandra von Zastrow (both inhouse).