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Clifford Chance Advises Vseobecna Uverova Banka on First Syndicated Slovak Covered Bond Transaction

Clifford Chance Advises Vseobecna Uverova Banka on First Syndicated Slovak Covered Bond Transaction

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Clifford Chance has advised Vseobecna Uverova Banka, a.s., a Slovak subsidiary of Intesa Sanpaolo, in connection with the update of its EUR 5 billion covered bond program and its inaugural syndicated EUR 500 million issuance listed on the Luxembourg Stock Exchange.

According to Clifford Chance, "the transaction represented a landmark for the covered bonds market in Slovakia, as it was the first syndicated issue of covered bonds under new regulation that was aimed primarily for international institutional investors. It was also the largest issue of a similar type of securities in the country's history and the investors' interest has exceeded the expectations of the issuer and sent a strong signal to the market.:

Clifford Chance's Slovak-law team based in Prague was led by Senior Associate Stanislav Holec, assisted by Junior Associate Andrej Havko and Senior Associate Vladimír Rylich. The firm's English-law team based in Milan was led by Partner Filippo Emanuele, with day to day support from Senior Associate Jonathan Astbury. Clifford Chance Luxembourg provided regulatory advice in connection with the securities listing. 

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