White & Case advises České dráhy (Czech Railways) on successful €500 million notes issuance
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Global law firm White & Case LLP has advised České dráhy (Czech Railways), the major railway operator in the Czech Republic, on its landmark issuance of €500 million 3.750% senior unsecured notes due 2031.
The notes are listed on the regulated market of the Luxembourg Stock Exchange.
Société Générale and UniCredit Bank acted as joint global coordinators and bookrunners and BNP Paribas, Erste Group Bank, ING Bank, Intesa Sanpaolo and KBC Bank acted as joint bookrunners.
Lukáš Svoboda, member of the board of directors and deputy CEO for economics and facility management at České dráhy, said: "We are very pleased with the positive response from investors and the achieved pricing. Although market conditions are challenging, demand exceeded the offered volume several times, which significantly contributed to achieving our lowest-ever spread (risk premium) on a Eurobond issue. We believe that the strong interest from investors reflects their confidence in České dráhy. As timing was important, we would like to thank all parties involved for the smooth and timely execution, made possible also by the support of our legal counsel White & Case."
White & Case partner Petr Hudec, who led the Firm's deal team, added, "This transaction underscores the company's continued commitment to modernising and enhancing its rolling stock and services, and we are pleased to have had the opportunity to support České dráhy by contributing our expertise in another highly successful issuance amid the current turbulent markets."
The White & Case team which advised on the transaction was led by partner Petr Hudec, working closely with counsel Petr Šmerkl and associate Anna Bezděková in Prague.
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