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News Feb 12, 2014

Shearman & Sterling Advises on €2.78 Billion Capital Increase of Raiffeisen Bank International AG

Shearman & Sterling advised the underwriters, led by Deutsche Bank, Raiffeisen Centrobank und UBS, in connection with a capital increase of Raiffeisen Bank International AG (RBI). With gross proceeds of approximately €2.78 billion, the transaction was one of the three largest capital increases in the history of the Vienna Stock Exchange.

The shares were placed with institutional investors in an accelerated bookbuilding (Pre-placement), followed by a subscription rights offering to the company's shareholders. In the Pre-placement, the shares were placed subject to partial clawback to allow delivery of shares subscribed by the company's shareholders in the subscription rights offering. In total, 97,473,914 shares were sold at a subscription and offer price of €28.50 share.

Through its network of universal banks, leasing companies and other financial service providers in 16 countries in Central and Eastern Europe and Austria, RBI offers a comprehensive range of banking and financial products as well as services to retail and corporate customers, financial institutions and public sector entities.

The Shearman & Sterling team advising the underwriters on this transaction included counsel Ulrich Weidemann (Frankfurt-Capital Markets) and associates Martin Schmidt and Simon Weiß (both Frankfurt-Capital Markets) and Derek Kershaw (New York-Tax).