27
Fri, May
57 New Articles

Allen & Overy Advises Czech Gas Networks Investments on Issuance and Placement of Notes

Allen & Overy Advises Czech Gas Networks Investments on Issuance and Placement of Notes

Czech Republic
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Allen & Overy has advised Czech Gas Networks Investments on its successful issuance and placement of EUR 600 million and CZK 6.75 billion notes with investors on international capital markets. Clifford Chance reportedly advised joint book-runners Citigroup Global Markets Europe AG, Societe Generale, UniCredit Bank AG, Ceska Sporitelna, a.s., Ceskoslovenska Obchodni Banka, a. s., and Komercni Banka, a.s., as well as trustee Citicorp Trustee Company Limited and the London branch of Citibank, which acted as the paying agent, transfer agent, and the agent bank.

According to Allen & Overy, “the notes, which are rated BBB+ by both S&P and Fitch, have been listed on the Global Exchange Market of the Irish Stock Exchange plc trading as Euronext Dublin. CGNI, which is owned by a consortium of long-term infrastructure investors, holds 100% of the share capital of Czech Grid Holding a.s., which in turn fully controls two core Czech businesses, operated by its subsidiaries: GasNet s.r.o. (which is the main distributor of natural gas in the Czech Republic) and GridServices s.r.o. The net proceeds from the notes have been used to partially refinance credit facilities used by CGNI to finance its acquisition of Czech Grid Holding a.s.”

Allen & Overy’s Prague-based team included Partner Petr Vybiral, Associate Jana Chwaszcz, and Junior Lawyer Denisa Jonasova. Its team in London included Partner Tim Conduit and Counsel Jan Skuhravy, and its team in Luxembourg included Partner Paul Peporte and Associate Ruslana Hrischeva.

Czech Republic Knowledge Partner

PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.

Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).

Firm's website: www.prkpartners.com

Our Latest Issue