10% ubm green hybrid bond 2025.
Key data
| Issuer | UBM Development AG |
| Rank | Direct, unsecured and deeply subordinated obligations ranking (i) senior to junior obligations, (ii) pari passu among themselves and with any parity obligations and (iii) junior to all other existing and future unsubordinated obligations as well as subordinated obligations of the Issuer which expressly rank senior to the obligations resulting from the New Notes, except as otherwise provided by mandatory provisions of law. |
| Rating | Not rated |
| Pricing Date | 29 April 2025 |
| Settlement date | 7 May 2025 |
| Call Schedule | Par calls in the 90 day period ending on (and including) 7 May 2030 (the ‘First Call Date’) and every interest payment date thereafter |
| Issue size | EUR 60 million |
| Maturity Date | Perpetual |
| Annual Re-Offer Yield to First Reset | 10.00% |
| Re-offer price | 100.00% |
| Coupon | 10.00%, payable annually in arrears, reset on the First Reset Date and every 5 years thereafter, to the 5-year Euro Mid-Swap rate + initial credit spread + 500bps step-up |
| Initial Credit Spread | 783.2bps |
| Use of proceeds | The net proceeds are intended to be used to satisfy the Issuer’s obligations in connection with the tender offer for the Issuer’s outstanding EUR 100,000,000 Undated Resettable Fixed Rate Deeply Subordinated Sustainability-Linked Notes (ISIN: XS2355161956). In addition, the net proceeds of the issuance of the Green Bonds are intended to finance and/or refinance, in whole or in part, new or existing eligible projects of the Issuer providing distinct environmental benefits from any of the eligible green project categories in accordance with the Issuer’s green finance framework, up to an amount equivalent to the net proceeds raised by the Bonds, and to realize such new and existing eligible green projects, especially in the core markets of Germany, Austria, Poland and the Czech Republic |
| Governing law | Austrian |
| Listing | Vienna Stock Exchange, Austria |
| Denominations | EUR 100k + EUR 100k |
| Target Market | Manufacturer target market (MIFID II / UK MIFIR product governance) is eligible counterparties and professional investors only (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the UK. |