KŠB Advises J&T Banka, UniCredit and PPF banka on the Next Phase of EMMA Capital’s Bond Programme
KŠB has continued its legal advisory role in connection with investment group EMMA Capital’s bond programme, which has been generating sustained and strong investor interest.

The latest tranche of EMMA Capital bonds, amounting to CZK 1.25 billion with the possibility of an increase up to CZK 2 billion, will now be offered by J&T Banka, UniCredit and PPF banka. According to recent media coverage, the issue has attracted significant attention, particularly from retail investors, with demand in certain cases exceeding the offered volume.
As with the previous tranches, the bonds issued under this third tranche will be admitted to trading on the regulated market of the Prague Stock Exchange and will be secured, among other things, by shareholdings in key holding companies of the group.
KŠB’s legal advice in this transaction focused primarily on capital markets matters and regulatory aspects of the cross-border issuance. KŠB’s team was led by senior associate Josef Kříž and supervised by partner Vlastimil Pihera.
The continued development of the programme confirms the market’s ongoing appetite for well-structured bond offerings and further highlights KŠB’s experience in capital markets transactions and complex financings with an international dimension.
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