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Allen & Overy Advises on Domestic Bond Issuance by Sazka Group

Allen & Overy Advises on Domestic Bond Issuance by Sazka Group

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Allen & Overy Prague has advised joint lead managers J&T Banka, Ceska Sporitelna, Komercni Banka, and UniCredit Bank Czech Republic and Slovakia, and J&T IB and Capital Markets as arrangers, on the Sazka Group's CZK 6 billion bond issuance.

Sazka Group is a pan-European lottery and sports betting operator that operates in Austria, Cyprus, the Czech Republic, Greece, and Italy.

According to Allen & Overy, “the transaction is particularly novel and unique in that the prospectus of these bonds is the first prospectus approved by the Czech National Bank after the new Prospectus Regulation took full effect in July this year. It is also the first transaction on the Czech market with bonds issued as unsecured obligations on the issue date, whilst its terms and conditions contain issuer’s covenant to provide, subject to certain conditions, security for the bonds and, at the same time, appoint a security agent. For that purposes, the terms and conditions of the bonds set out a full spectrum of future rights and obligations of the security agent as creditor and secured creditor vis-à-vis the issuer, security providers and bondholders."

The Allen & Overy team was led by Counsel Petr Vybiral, supported by Associate Tomas Kirner, among others.

Czech Republic Knowledge Partner

JŠK, advokátní kancelář, s.r.o. (JŠK) is a medium-sized law firm based in Prague providing a comprehensive range of commercial legal advisory services in the Czech Republic. Our team consists of almost 30 lawyers, five of whom are partners with many years of experience from leading international law firms. We advise local and international clients from banking, insurance and various industry sectors, boast a respected projects practice, and work for the public sector at the federal and municipal level.

Ever since it was founded in 2004, JŠK has striven for the epitome of professionalism, expertise and ethical integrity. We continuously seek to surpass what large global law firms can offer and to give our clients a personal approach. All mandates are equally important to us regardless of size as we guide clients through both complex and seemingly routine matters.

Our clients turn to us for advice when implementing their business plans across all areas of commercial law. We are proud members of PONTES: the CEE lawyers, a unique network of law firms through which we provide services not only in the Czech Republic but also in Austria, Bulgaria, Hungary, Poland, Romania and Slovakia.

Firm's website: http://www.jsk.cz

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