29
Fri, Mar
51 New Articles

Dentons Advises CPI Property Group on EUR 335 Million Tender Offer for Outstanding Bonds

Dentons Advises CPI Property Group on EUR 335 Million Tender Offer for Outstanding Bonds

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

Dentons has advised the CPI Property Group on its successful tender offer of outstanding bonds due in 2026, 2027, and 2028.

The CPI Property Group owns income-generating real estate in the Czech Republic, Berlin, and the Central and Eastern Europe region.

According to Dentons, “the tender offer, which was announced by CPIPG on April 4, 2023, invited holders of its outstanding EUR 750 million 2.750% senior notes due 2026, EUR 750 million 1.625% Senior Notes due 2027, and EUR 400 million 2.750% Senior Notes due 2028 to tender their notes through an unmodified Dutch auction procedure for purchase by CPIPG for cash. The rationale for the tender offer was to reduce CPIPG's total debt and to decrease the volume of its outstanding senior unsecured bonds. Banco Santander S.A., MUFG Securities (Europe) N.V., Societe Generale, and UniCredit Bank AG acted as the dealer managers on the tender offer.”

According to the firm, “the equivalent of approximately EUR 700 million was tendered. Because of the success of the offer, CPIPG accepted nearly EUR 335 million (converted into the EUR equivalent where applicable) of tenders, an increase of 34% above its initial tender acceptance amount.”

Dentons’ team in London included Partner Nick Hayday, Senior Associate Victoria Wyer, and Associate Zeeshan Hussain, alongside additional team members in Luxembourg.

Dentons did not respond to our inquiry on the matter.

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