Binder Grösswang advises VERBUND AG in connection with the issuance of a "green" bond
Binder Grösswang has advised VERBUND AG, Austria’s leading electricity provider, in connection with the issuance of a "green" bonded loan (Schuldscheindarlehen).
It is the worldwide first "green" digital bonded loan issuance via the fully-integrated issuing platform vc trade.
VERBUND AG expects a term of ten years and a volume of EUR 100 mio. The transaction is being arranged by Helaba Landesbank Hessen-Thüringen.
The platform vc trade is using state-of-the-art technology to modernize all aspects of bond origination by condensing the issuing process, which until now has been highly fragmented and characterized by manual intervention. Transaction parties as well as external service providers and advisors benefit from a continuous and transparent communication chain, shared data and document rooms, as well as integrated interfaces into the processing systems. For the first time in the Schuldschein market all transaction steps, including an algorithm-controlled drawing and allocation mechanism, were conducted centrally via a digital platform.
"We are very pleased to support VERBUND AG in this innovative and trendsetting issuance. This cutting-edge transaction represents a milestone in the trustful cooperation with VERBUND AG", says Binder Grösswang Partner Emanuel Welten.
The Binder Grösswang team consisted of lead partner Emanuel Welten (Banking & Finance) and associates Adrian Zuschmann (Banking & Finance) and Markus Stelzl (Banking & Finance).