Lombard loans on the Wiener Börse.
Private credit against Wiener Börse (Vienna Stock Exchange)-listed shares — pledged, not sold.
A Lombard loan against Wiener Börse-listed shares is credit secured by a pledge of equity listed on the Wiener Börse (Vienna Stock Exchange). The holder pledges the shares, draws cash against a fraction of their market value, retains ownership and dividends subject to structuring, and recovers the position on repayment.
- Facilities are arranged against equity listed on the Wiener Börse (Vienna Stock Exchange) (Wiener Börse), Vienna.
- The pledge preserves ownership, dividends, and the upside for the holder.
- Loan-to-value is set per line; funded in EUR or cross-currency.
- Structured under FMA, with disclosure from 4%.
The venue
One of the oldest continuously operating exchanges in the world. A focused index with significant concentration in banking, insurance, oil and gas, and infrastructure. The Austrian disclosure regime carries a distinctive step structure that differs from most EU peers.
Regulator and disclosure
The Wiener Börse (Vienna Stock Exchange) operates under Finanzmarktaufsicht (FMA) (FMA). Stock Exchange Act Section 130: voting-rights notifications required at 4%, 5%, 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%, 50%, 75%, 90%. A pledge over a substantial line is arranged with that reporting regime in view, so that the facility is both discreet and compliant, and so that positions near a control or takeover threshold are not disturbed.
Structuring a facility here
Lombard facilities against Wiener Börse-listed shares are typically arranged for a tenor of twelve to thirty-six months, funded in EUR or another currency on a cross-currency basis, with the collateral held by a qualified custodian under bankruptcy-remote arrangements. Non-recourse, limited-recourse, and full-recourse structures are available; the choice interacts with the loan-to-value and the spread.
| Exchange | Wiener Börse (Vienna Stock Exchange) (Wiener Börse) |
|---|---|
| City · Country | Vienna · Austria |
| Regulator | Finanzmarktaufsicht (FMA) (FMA) |
| Disclosure | From 4% |
| Principal indices | ATX, ATX Five, ATX Prime |
| Segments | Prime Market; Standard Market; Direct Market Plus |
| Currency · Tenor | EUR · 12–36 months |
| Recourse | Non-recourse / limited-recourse / full-recourse |
Financing a position listed on the Wiener Börse?
Request terms →See also the country overview: Lombard loans in Austria.
Other exchanges in the region.
On this market, specifically.
Liquidity and the index
The Wiener Börse is one of the world's oldest exchanges, running a focused market where the ATX and its Prime Market segment gather large caps in banking, insurance, oil and gas and infrastructure. The index is concentrated, so a handful of names carry most of the turnover; for a Lombard loan that means good depth in the leaders but a careful eye on float elsewhere. Beyond the Prime Market, on the Standard Market and Direct Market Plus, liquidity is lighter, so we lower the advance rate and size the facility to what a holding could realise calmly over several sessions rather than at once.
Structuring notes
Custody and settlement sit with Austria's central securities depository, so a Lombard credit against Vienna-listed equity is documented locally while ownership, dividends and votes stay with the client. The structuring point particular to Austria is its disclosure ladder, which begins at 4% and steps in fine increments, so a substantial holding can approach a notification level sooner than on many EU markets; we draw the facility and any collateral calls with that in mind. With the index concentrated in banks, insurers and industrials, continuity of a family's control is usually central to the exercise.