Dentons advises lead managers on Passerinvest’s bond issuance and exchange offer

Prague-Global law firm Dentons provided legal advice to Česká spořitelna, Komerční banka, Raiffeisenbank, and UniCredit Bank Czech Republic and Slovakia in their capacity as lead managers for the bond issuance by Passerinvest Finance, a.s. The bonds carry a fixed interest rate of 6,5% and have a total nominal value of CZK 2.5 billion. The bonds were admitted to trading on the regulated market of the Prague Stock Exchange. The issue arrangers were Česká spořitelna and UniCredit Bank Czech Republic and Slovakia.

The debt obligations under the bonds are secured by a guarantee from Passerinvest Group, a.s. Concurrently with the issuance, an exchange offer was conducted for existing bonds previously issued by PASSERINVEST FINANCE, a.s., ISIN: CZ0003549214, for the newly issued bonds. Dentons provided legal advice to the aforementioned banks in their role as co-managers for the exchange.

The issue date for the newly issued bonds and the settlement date for the exchange offer were both set for March 31, 2026.

"We are pleased to have supported Passerinvest on both the new bond issuance, and the concurrent exchange offer. We thank all parties involved for their trust. This transaction confirms our ability to quickly and effectively support clients even in complex bond transactions," said Tomáš Kafka, partner at Dentons in Prague.

"We greatly appreciate the high level of interest from both new and existing investors, who confirmed their long-term satisfaction by taking advantage of the exchange offer. We would also like to thank all the banks that participated in this latest successful issuance, as well as Dentons for their professional legal advice throughout the transaction," said Jiří Junger, Chief Economist, Passerinvest Group.

"The bond offering was affected by the conflict in the Middle East and the related uncertainty and volatility in the capital markets. Nevertheless, we managed to issue the bonds at the maximum possible volume, which we consider a great success confirming investors' long-term confidence in the sustainability and stability of the Passerinvest Group's business. "We thank the group for the repeated opportunity to participate in its bond transactions," said Roman Šťastný, Head of Debt Capital Markets at UniCredit Bank Czech Republic and Slovakia, on behalf of the banks.

Partner Tomáš Kafka led Dentons' legal team, which included Martin Fiala (Senior Associate) and Tomáš Husička (Associate). Lukáš Poulík (Counsel) handled the tax aspects of the transaction together with Rostyslav Senchuk (Associate).

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