White & Case advises VERBUND on €500 million green bonds issuance including biodiversity

Global law firm White & Case LLP advised VERBUND AG on its €500 million green bonds issuance including biodiversity with a seven-year term and a fixed coupon of 3.250%.

VERBUND intends to use the net proceeds from the issuance of the bond for green projects that are in line with the VERBUND Green Financing Framework, updated in May 2024. The green financing framework was examined by sustainability rating agency ISS ESG and provided with a second party opinion, which confirms compliance with the EU taxonomy (from November 2022), the Green Bond Principles 2021 (with appendix from June 2022) and the EU Green Bond Standards.

VERBUND intends to use up to 90 percent of the proceeds from the bond to finance the construction of the 380 kV Salzburg high-voltage line (Salzburg line). In addition, VERBUND intends to finance the 'LIFE Riverscape Lower Inn' and 'LIFE Blue Belt Danube-Inn' projects.

The notes were admitted to trading on the regulated market of the Luxembourg Stock Exchange and of the Vienna Stock Exchange.

The White & Case team in Frankfurt which advised on the transaction was led by partner Karsten Wöckener and included local partner Peter Becker and associate Darleen Stöckl.

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