8.1.2016
News
Capital markets

KŠB advised J&T BANK on issuing CZK and EUR perpetual bonds

KŠB advised one of the leading Czech private banks on two issues of subordinated unsecured perpetual bonds, one in Czech crowns and the other in euros. The bonds were accepted for trading on the Prague Stock Exchange. 

The first, September 2015 issue amounted to CZK 1 billion, with each bond having the nominal value of CZK 100,000, while the second, December 2015 issue amounted to EUR 50 million, with each bond having the nominal value of EUR 5,000. In addition to the Czech market, the EUR bonds are available on the Slovak market, which required cooperation from both the Czech and Slovak National Banks in providing the bonds’ prospectus with the so-called passport. The bonds are counted as Tier 1 capital.

The bonds are only available to professional investors and clients with available investment cash over EUR 100,000.

KŠB previously advised J&T BANK on the first-ever issue of perpetual bonds, a pioneering deal in the Czech Republic, in 2014. 

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