Global law firm White & Case LLP has provided legal counsel to a bank syndicate for Vonovia SE’s issuance of two series of senior unsecured convertible bonds. Each series holds a nominal value of €650 million. The first series is set to mature on May 20, 2030, while the second will reach maturity on May 20, 2032.
These convertible bonds offer conversion into new or existing no-par value registered shares of Vonovia, with current shareholders’ subscription rights excluded. Vonovia plans to allocate the proceeds from these issuances towards general corporate purposes, including debt refinancing.
White & Case has been active in advising banking syndicates on several German companies’ convertible bond issuances, especially within the real estate sector. Notable transactions include LEG Immobilien’s €700 million and TAG Immobilien’s €332 million convertible bonds.
The team from White & Case in Frankfurt was led by partner Karsten Wöckener and local partner Peter Becker. The team also included local partner Daniel Sander and associate Darleen Stöckl.
