Clifford Chance advises KKCG on landmark bond issuance
24.06.2024Company: Clifford Chance Prague LLP, organizační složka
The Prague team of Clifford Chance has advised KKCG on the largest commercial bond issuance for retail investors in the Czech history. The issuance, totalling up to 10 billion CZK, has received approval from the Czech National Bank and marks a significant milestone for KKCG.
The offering of the bonds has been mandated to four major banks: J&T, PPF Banka, Česká spořitelna, and Komerční banka. The bonds will be listed on the Prague Stock Exchange, providing investors with liquidity and transparency. The bonds, which will be available to both individual and institutional Czech investors, have a maturity of five years and an attractive interest rate of 7.75%. They will be issued in two tranches, with the first 5 billion CZK tranche scheduled for release in July this year, and the second tranche following in September 2024.
Clifford Chance has a long-standing relationship with KKCG, providing legal advisory services related to financing and capital markets. Notably, over past twelve months Clifford Chance advised Allwyn on the offering of Senior Secured Notes, a €335 million Accordion Facility, a €1.6 billion Senior Facilities Agreement and a [USD] 450 million Term Loan B Facility.
KKCG is an investment and innovation group with expertise in lotteries and gaming, energy, technology, and real estate. Founded by entrepreneur, investor, and philanthropist Karel Komárek, KKCG employs over 16,000 people in 37 countries across its portfolio companies, with more than €10 billion in assets under management. Its businesses include, amongst others, Allwyn, a multi-national lottery operator; MND Group, an international producer and supplier of traditional and renewable energy; ARICOMA, Avenga and Qinshift, providing comprehensive IT services and custom software development around the globe; and KKCG Real Estate Group.
The Clifford Chance team working on the transaction was led by the Prague managing partner Miloš Felgr with strong support from senior associate Hana Čekalová and associate Lukas Ljubovič.
Tags: Law |
