10.6.2025
News
Financial services
Capital markets

Advising J&T on EMMA Capital Bond Issuance

KŠB provided legal advice to its long-term client, the J&T group, in connection with the preparation of a bond programme for the investment group EMMA Capital. The base prospectus has already been approved by the Czech National Bank and notified to the National Bank of Slovakia. At KŠB, the advisory team was led by Josef Kříž, under the partnership supervision of Vlastimil Pihera.

EMMA Capital was established in 2012 and has since become a major player in the gaming and energy industries. Its key activities include investments in Austrian companies Casinos Austria and Österreichische Lotterien, Italy’s LOTTOITALIA, and Croatia’s SuperSport; the creation of the SAZKA Group in cooperation with the KKCG group; and the acquisition and development of energy companies in Romania and Moldova under the Premier Energy Group brand, including investments in renewable energy sources.

EMMA Capital has now decided, after several years, to reduce its debt costs through bond issuances under this newly established programme. The purpose-built Czech and Slovak companies, Emma Finance CZ and Emma Finance SK, will offer securities in the first tranche with a total volume of CZK 2.5 billion and EUR 50 million, respectively — approximately CZK 1.25 billion in conversion.

All debts of these issuers will be secured by shares in group holding companies based in Cyprus. Notably, the aforementioned Premier Energy Group has been listed on the Bucharest Stock Exchange (Bursa de Valori București, BVB) since last year.

We thank J&T for their trust in this important issuance and hope to continue supporting J&T IB Capital Markets in strengthening its position as a leader among debt issuance arrangers.

For more information, see here, here, here, or here.

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