Vienna, 14 March 2014. Fellner Wratzfeld & Partner Rechtsanwälte GmbH (fwp) represented BAWAG P.S.K. in connection with the repayment of the entire participation capital subscribed by the Republic of Austria.

In December 2009, BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft (BAWAG P.S.K.) issued participation capital in the amount of EUR 550,000,000 in total. On the basis of the Financial Market Stability Act (Finanzmarktstabilitätsgesetz, FinStaG), the Republic of Austria subscribed for the participation capital which served to strengthen the tier 1 capital of Austrian banks after the financial crisis and was held by FIMBAG Finanzmarktbeteiligung Aktiengesellschaft as the Republic’s trustee.

In June 2013, December 2013 and March 2014, BAWAG P.S.K. repaid parts of the participation capital and now completed this process by transferring a last tranche in the amount of EUR 350,000,000.

“We are happy that, with our profound expertise in banking supervision and company law, we were able to provide support to a long-standing client on this important step”, says fwp partner Markus Fellner.