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CMS Advises on First Bond Issue Under Hungary's Bond Funding for Growth Scheme

CMS Advises on First Bond Issue Under Hungary's Bond Funding for Growth Scheme

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CMS Hungary has advised OTP Bank Plc., the arranger of Pannonia Bio's issuance of the first Hungarian forint bond in line with the Bond Funding for Growth Scheme announced by the Central Bank of Hungary in July, 2019 which involves the bank's purchase of bonds with good ratings issued by non-financial corporations as well as securities backed by corporate loans from a HUF 300 billion funding pool. BLS represented Pannonia Bio.

According to CMS, Pannonia Bio's successful bond auction resulted in the sale of HUF 15 billion of bonds to the Central Bank of Hungary.  

The CMS team consisted of Partner Erika Papp, Senior Consultant Arpad Lantos, and Junior Associate Zsolt Beregi.

The BLS team included Partners Gabor Kovacs and Erzsebet Szalay and Associate Mark Bene.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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