Assisting J&T IB and Capital Markets07/12/22 / News
KŠB's team (Vlastimil Pihera, Martin Krejčí, Matúš Kovačič and Tomáš Trávníček) advised J&T IB and Capital Markets, a.s., as the arranger, on another issue of unsecured unsubordinated book-entry bonds, this time by J&T ARCH CONVERTIBLE SICAV, a.s., with the total value of up to CZK 1 billion and an option to increase by as much as an additional 100%.
The uncommon structure of the bonds entitles the bondholder to a variable coupon linked to the price of the underlying's investment share issued by J&T ARCH INVESTMENTS SICAV, a.s., a qualified investor fund, and enables the bondholder – qualified investor – to convert the bonds into shares, thus effectively exchanging the coupon yield for a participation interest in the fund.
In addition to structuring the bonds and preparing the prospectus for the bonds' admission to trading on the Prague Stock Exchange and for their public offer in the Czech Republic, we also represented the client in the approval proceedings before the Czech National Bank.
We would like to thank J&T ARCH CONVERTIBLE SICAV, a.s. for entrusting us with the role of legal advisor on this unique financing transaction and look forward to similar interesting yet challenging projects to come.