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.