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Allen & Overy Advises Banks on Czechoslovak Group Bond Exchange Offer and Issuance

Allen & Overy Advises Banks on Czechoslovak Group Bond Exchange Offer and Issuance

Czech Republic
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Allen & Overy has advised Ceska Sporitelna, UniCredit Bank Czech Republic and Slovakia, and Komercni Banka on the Czechoslovak Group's exchange offer, issuance of new bonds, and partial cash settlement.

All three banks were joint lead managers, Ceska Sporitelna and UniCredit Bank Czech Republic and Slovakia were joint exchange managers, and Ceska Sporitelna alone was coordinator, calculation agent, listing agent, and fiscal and paying agent.

The Czechoslovak Group, a holding of Czech and Slovak industrial and trade companies, invited holders of its outstanding domestic bonds (due 2021) to exchange their existing bonds for newly issued CZK 2 billion domestic bonds due 2024. Holders of CZK 771 million existing bonds accepted the exchange offer, while the remaining amount of the newly issued bonds were sold to investors.

According to Allen & Overy “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.” 

The Allen & Overy team included Counsel Petr Vybiral, and Associates Jana Chwaszcz and Tomas Kafka.  

Czech Republic Knowledge Partner

JŠK, advokátní kancelář, s.r.o. (JŠK) is a medium-sized law firm based in Prague providing a comprehensive range of commercial legal advisory services in the Czech Republic. Our team consists of almost 30 lawyers, five of whom are partners with many years of experience from leading international law firms. We advise local and international clients from banking, insurance and various industry sectors, boast a respected projects practice, and work for the public sector at the federal and municipal level.

Ever since it was founded in 2004, JŠK has striven for the epitome of professionalism, expertise and ethical integrity. We continuously seek to surpass what large global law firms can offer and to give our clients a personal approach. All mandates are equally important to us regardless of size as we guide clients through both complex and seemingly routine matters.

Our clients turn to us for advice when implementing their business plans across all areas of commercial law. We are proud members of PONTES: the CEE lawyers, a unique network of law firms through which we provide services not only in the Czech Republic but also in Austria, Bulgaria, Hungary, Poland, Romania and Slovakia.

Firm's website: http://www.jsk.cz

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