White & Case has advised Ceske Drahy, a.s., the Czech national railway transport operator, on its issuance of EUR 500 million 1.5% notes due 2026 and their admission to trading on the Luxembourg Stock Exchange. Clifford Chance reportedly advised joint global coordinators and bookrunners Citigroup and Erste Group Bank AG and joint bookrunner ING.
According to White & Case, "the proceeds of the bond issue will be used to repay Ceske Drahy’s EUR 300 million 4.125% notes due 2019, to finance capital expenditures, and for general corporate purposes." The firm reports that "the issuance attracted strong investor demand, exceeding the planned issue multiple times."
White & Case reports that it has advised Ceske Drahy on all its previous securities issuances, including all its Eurobond issues.
The White & Case team that advised on this transaction was led by Local Partner Petr Hudec in Prague and London-based Partner Stuart Matty, with support from Prague-based Associate Jan Vacula and London-based Associate Jessica Oliver.