14 Nov 2025

Linklaters advises Vonovia on €2.25 billion Eurobond issuance

"Linklaters advised Vonovia SE on the placement of three Eurobond series totalling €2.25 billion with maturities of 7, 11 and 15 years and on a concurrent tender offer for unsecured Eurobonds maturing through 2027. Proceeds will be used for general corporate and refinancing purposes, notably to fund the tender offer."

Linklaters advised Vonovia SE, Germany’s leading residential real estate company, in connection with the placement of Eurobonds and a concurrent tender offer. The firm assisted in the successful placement of three series of Eurobonds with an aggregate volume of €2.25 billion and maturities of seven, eleven and fifteen years. Concurrently, Linklaters advised Vonovia on a tender offer for unsecured Eurobonds maturing through 2027. The proceeds of the bond issuance will be used for general corporate and (re-)financing purposes of the Group, in particular to fund the aforementioned tender offer. The Linklaters team regularly advises Vonovia on capital markets transactions, most recently in September 2025 on Vonovia’s debut on the Australian bond market (its first Kangaroo Bond) and in May 2025 on the placement of €1.3 billion in convertible bonds. Linklaters represented Vonovia SE with a team composed by: Alexander Schlee (Partner, Capital Markets, Frankfurt); Will Cresswell (Counsel, Capital Markets, Frankfurt); Rowina Ullner (Managing Associate, Capital Markets, Frankfurt); Catrin Retzmann (Associate, Capital Markets, Frankfurt); Asli Becerir (Transaction Lawyer, Capital Markets, Frankfurt).
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