Allen & Overy has advised Raiffeisenbank on its EUR 500 million issuance of senior non-preferred sustainable notes under its international debt issuance program. White & Case reportedly advised the managers.
"A sum equivalent to the net proceeds will be used to finance or re-finance loans to projects and activities that promote climate-friendly and other environmental or sustainable purposes," Allen & Overy informed.
According to the firm, "the notes were issued under German law, but their status as senior non-preferred and MREL-eligible instruments is also governed by the applicable Czech rules. The notes were accepted for trading on the Luxembourg Stock Exchange. Raiffeisenbank is also one of the first Czech issuers to implement the noteholders’ certification procedures as approved by the International Capital Market Services Association and implemented by both Euroclear and Clearstream."
Allen & Overy previously advised Raiffeisenbank on the opt-in of its outstanding English-law-governed mortgage-covered bonds into the new regulatory framework in the Czech Republic and the consequent EUR 500 million issuance of mortgage-covered bonds (as reported by CEE Legal Matters on January 21, 2022).
The Allen & Overy team was led by Prague-based Partner Petr Vybiral and included Senior Associate Tomas Kafka and Junior Lawyer Jan Mourek as well as a team from the firm’s German office.
Editor's Note: After this article was published, White & Case confirmed it had advised the lead managers. The firm's team included Partner Petr Hudec and Associates Petr Smerkl and Jan Vacula, as well as a team from the firm's Frankfurt office.