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Wolf Theiss Advises J.P. Morgan on Petrol Bond Issuance


Wolf Theiss has advised J.P. Morgan Securities on the issuance of bonds by Petrol, d.d, Ljubljana, the leading Slovenian energy company.

Petrol successfully placed 5-year bonds worth a total of EUR 265 million. The bonds were priced at 99.32% of their notional amount, carrying a 3.25% annual coupon and a yield to maturity of 3.4%. The company announced its transaction on the open market on Monday, June 16, 2014. The order book was closed within three hours of the transaction announcement with roughly EUR 1 billion in high-quality orders from over 120 institutional investors. The transactions were concluded primarily with fund managers and insurance companies, which accounted for 89% of the orders, with the balance taken up by banks and private banks with 10% and other investors accounting for the remaining 1%.  

The Wolf Theiss team was led by Partner Markus Bruckmuller and Associate Uros Notar. The scope of work included negotiating the documentation from a Slovenian law perspective, drafting the taxation section in the Prospectus, as well as providing a standard legal opinion on the documentation. 

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ODI is one of the leading independent corporate law firms in South-Eastern Europe and one of the fastest growing in the region with a team of 40 lawyers which provides legal services to a wide range of premier clients, including local and multinational corporations and financial institutions.  With permanent presence in all ex-Yugoslavia countries by offices in Slovenia, Serbia, Croatia and Macedonia and working desks for Bosnia and Montenegro ODI provides seamless service in the region for all cross-border projects and prides itself on an unmatched understanding of the business cultures in the region. The 4 core practice areas are M&A, Corporate Restructuring, Banking Finance and Dispute Resolution. ODI team has a reputation for successfully managing large and complex multi-jurisdictional transactions, disputes and projects, and delivering outstanding outcomes for clients.

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