White & Case advises bank syndicate on €750 million AAA-rated mortgage covered bonds issued by Komerční banka

Global law firm White & Case LLP has advised an international syndicate of banks on Komerční banka’s issuance of €750 million 3.250% fixed-rate mortgage covered bonds, with Société Générale acting as sole global coordinator and joint lead manager, BayernLB, Danske Bank, Erste Group, ING and UniCredit acting as joint lead managers and Bank Pekao and NORD/LB acting as co-managers.

The bonds are rated AAA by Fitch and carry the European Covered Bond (Premium) label. They were issued under Komerční banka’s EMTN programme, on whose establishment and subsequent update White & Case previously advised, and are listed on the Luxembourg Stock Exchange.

Jiří Škop, Capital, Funding & Investments Director at Komerční banka, said: “The transaction represents yet another important milestone for Komerční banka and confirms the strength of our funding platform, even against the backdrop of a changing geopolitical environment. We greatly value the continued support of White & Case, which advised the syndicate of banks on this transaction and helped ensure its smooth execution, as always.”

“The issuance marks a very successful mortgage covered bond transaction by Komerční banka and, at the same time, the first issuance from the CEE region following elevated market volatility since the end of February this year,” said White & Case partner Petr Hudec, who led the Firm’s deal team. “We enjoy supporting landmark international capital markets transactions by regional players.”

The White & Case team advising on the transaction was led by partner Petr Hudec and included associate David Mikyska and legal intern David Eyem (all Prague) and partner Neha Saran and counsel James Clarke (both London).

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