Greenberg Traurig has acted as legal counsel to Raiffeisen Polbank in the process of issuance of Series A bonds with a value of PLN 500 million (approximately EUR 115.6 million).
On November 19, 2014, the bank issued three-year unsecured and unsubordinated corporate bonds for institutional investors. The bonds were issued pursuant to a public offering which did not require an issue prospectus or information memorandum, and were subsequently introduced to the alternative trading system operated by BondSpot within the Catalyst market. The bonds were first traded on January 15, 2015.
The issue of Series A bonds is the first stage of the issue program of Raiffeisen Polbank corporate bonds. The maximum aggregate nominal value of the bonds issued under the program is PLN 2 billion.
Pursuant to the offering, the European Bank for Reconstruction and Development took up 15% of the bonds with the aggregate nominal value of PLN 75 million.
Greenberg Traurig provided comprehensive legal advice to Raffeisen Polbank, including structuring the bonds issue program, as well as the implementation of the public offering, dematerialization, and the introduction of Series A bonds to the alternative trading system. The Warsaw office team of Greenberg Traurig was led by Partner Ireneusz Matusielanski, assisted by Associates Adam Puchalski, Dawid Van Kedzierski, and Magdalena Bachleda-Ksiedzularz.
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