White & Case advises on J&T BANKA’s €300 million MREL notes issuance and simultaneous cash tender offer related to outstanding MREL notes

Global law firm White & Case LLP has advised BNP PARIBAS, Goldman Sachs Bank Europe SE, J&T BANKA, a.s., Morgan Stanley Europe SE and UniCredit Bank GmbH, as joint lead managers, and Raiffeisen Bank International AG and WOOD & Company Financial Services, a.s. as co-managers, on the issuance by J&T BANKA of €300 million senior preferred MREL-eligible notes due 2031.

In parallel, White & Case also advised on J&T BANKA's cash tender offer related to its outstanding €120 million senior preferred MREL-eligible notes due 2026, with an acceptance rate reaching nearly 85 percent of the total nominal amount.

The notes are issued under J&T BANKA’s €3 billion EMTN programme and listed on the regulated market of the Luxembourg Stock Exchange. The transactions were preceded by an update of J&T BANKA’s EMTN programme, the first English law-governed regulatory notes programme established by a Czech bank, on which White & Case also advised.

Martin Kubeš, CFO at J&T BANKA, said: "The strong investor demand for our largest international bond issuance to date clearly demonstrates the market’s confidence in the long-term resilience and strategic direction of J&T BANKA. The transaction's nearly threefold oversubscription and the wide geographic distribution of buy-and-hold investors underscore J&T BANKA’s growing stature – not only as a key player within the Czech and Slovak financial sectors but also as an increasingly recognized name in the broader European banking landscape. I would like to extend my sincere appreciation to all colleagues and advisors whose efforts were instrumental in the success of this transaction."

White & Case partner Petr Hudec, who led the Firm's deal team, said: "We are proud to have advised on this very successful issuance and liability management transaction which further strengthened J&T BANKA’s capital position. The transaction is a testament to our Firm's go-to character for complex regulatory capital markets transactions."

J&T BANKA, a subsidiary of J&T Finance Group, is a leading private and investment bank operating in the Czech Republic and Slovakia. The group holds major investments across a range of sectors including energy, media, real estate and sports.

The White & Case team which advised on the transaction was led by partner Petr Hudec (Prague), working closely with associate David Mikyska and counsel Petr Šmerkl in Prague. The team also included London-based partner Neha Saran and counsel James Clarke.

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