Carsted Rosenberg Advises on German-Danish Bond Issue
Together with Clifford Chance Deutschland LLP, as German counsel, Carsted Rosenberg and Bruun & Hjejle I/S advised as Danish co-counsels to the Danish issuer in relation to a prospective real-estate bond to be issued on the Frankfurt Stock Exchange open market (Freiverkehr). The arranging banks were advised by White & Case LLP and Kromann Reumert I/S. The proposed transaction included a novel security structure providing registered security for the bond holders in Danish real estate for the purposes of an euro-denominated German-law governed real estate project finance bond by a Danish issuer and would have constituted the first of its kind in the market. The Frankfurt Stock Exchange operated by Deutsche Börse AG is one of the world’s largest trading centres for securities. It has established itself as one of the most attractive listing venues for companies in Europe due to its global investor reach and reputation. A listing on the Frankfurt Stock Exchange offers a number of advantages to foreign issuers, including high liquidity for traded financial instruments, comparatively low costs for admission and listing and a well balanced regulatory environment with different trading segments. Primarily foreign instruments are traded in Open Market on the Frankfurt Stock Exchange including bonds, certificates and warrants of German and foreign issuers.