KŠB advises J&T Banka, Unicredit, PPF Banka, Česká spořitelna and Komerční banka on the next phase of EMMA Capital's bond programme

The newest two tranches of EMMA Capital bonds, worth approximately CZK 4.3 billion (of which 3.3 billion were in CZK and 40 million in EUR), were newly placed by J&T Banka, Unicredit and PPF Banka as well as by Česká spořitelna and Komerční banka.

Given that the original base prospectus had expired, it was necessary to prepare a new one for the current programme. According to recent media coverage, it has attracted considerable attention, particularly from retail investors.

As in the previous cases, the bonds issued under this third tranche will be traded on the regulated market of the Prague Stock Exchange and are secured by, among other things,  interests in the group's key holding companies. Jiří Šmejc's group may use the proceeds from the bonds, for example, for further acquisitions by the group.

KŠB's legal advice on this transaction covered capital markets matters and the regulatory aspects of the cross-border issuance. KŠB’s team was led by senior associate Josef Kříž under the guidance of partner Vlastimil Pihera, with the assistance of junior lawyer Marek Dunda.

This latest development confirms the market's continued interest in well-structured bond issuances and, at the same time, underlines KŠB's experience advising on capital markets matters and complex financings with an international dimension.

More here.

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