White & Case advises on Dr. Max’s CZK 20 billion domestic bond programme and CZK 1.25 billion retail note issuance

Global law firm White & Case LLP has advised Komerční banka, UniCredit Bank Czech Republic and Slovakia and Česká spořitelna as joint lead managers, and Privatbanka as co-manager, on the issuance of CZK 1.25 billion (approximately €50 million) 6.20% guaranteed notes by Dr. Max, a leading European pharmacy chain.

The notes were issued under Dr. Max's newly established CZK 20 billion (approximately €830 million) note programme, on which White & Case also advised earlier in 2025.

The notes, issued by Dr. Max Funding CR, s.r.o. and guaranteed by its parent company Dr. Max Group Holdings Plc, are listed on the regulated market of the Prague Stock Exchange.

White & Case previously advised on Dr. Max's two standalone retail notes issuances in the aggregate amount of CZK 6.12 billion (approximately €260 million).

"We are pleased to have advised on these bond transactions, which have helped diversify the Dr. Max group's investor base and fuel its further growth," said White & Case partner Petr Hudec, who led the Firm's deal team.

Headquartered in Prague and wholly owned by the Penta investment group, Dr. Max operates an extensive network of pharmacies across several European countries, including the Czech Republic, Slovakia, Poland, Romania, Serbia and Italy.

The White & Case team in Prague which advised on the transaction was led by partner Petr Hudec and included associates David Mikyska and Josef Levy.

Press contact
For more information please speak to your local media contact.