Unprecedented exchange offer and new bonds issuance by CZECHOSLOVAK GROUP
05 November 2019
This is a first-of-its-kind transaction on the Czech market involving an exchange offer in respect of wholesale domestic bonds for retail domestic bonds, both admitted to trading on the regulated market of the Prague Stock Exchange.
CZECHOSLOVAK GROUP, a holding of Czech and Slovak industrial and trade companies, invited holders of its outstanding domestic bonds (due in 2021) to exchange their existing bonds for newly issued CZK 2 billion domestic bonds due 2024. The exchange offer was managed by Česká spořitelna and UniCredit Bank Czech Republic and Slovakia. Holders of CZK 771 million existing bonds accepted the exchange offer, while the remaining amount of the newly issued bonds was placed among the investors.
The Allen & Overy team comprised counsel Petr Vybíral, and associates Jana Chwaszcz and Tomáš Kafka.
For further information, please contact Jana Kloudová, firstname.lastname@example.org, on +420 222 107 117.