Osborne Clarke has advised bauverein AG on the documentation of its first issue of registered unsecured bonds in the amount of EUR 50 million arranged by Landesbank Hessen-Thüringen. bauverein AG is the real estate subsidiary of the City of Darmstadt. With 16,000 residential units in and around Darmstadt and 150 years of experience in residential construction and management, it is the largest real estate service provider in the south of the state of Hesse.
The bonds have a tenor of 20 years. The proceeds of the bond financing will be used by bauverein AG to implement an extensive investment plan and for general corporate purposes.
The Osborne Clarke team advising bauverein AG was led by finance Partner Antje Günther supported by Associate Jochen Langer. Internally, the bond issue was led by Sybille Wegerich, member of the board of bauverein AG.