White & Case advises initial purchasers on Czechoslovak Group’s US$1 billion and €1 billion dual-tranche notes issuance

Global law firm White & Case LLP has advised BNP PARIBAS, J.P. Morgan SE and Morgan Stanley Europe SE as joint global coordinators, joint physical bookrunners and initial purchasers, and UniCredit Bank GmbH as joint bookrunner and initial purchaser, on the issuance of senior secured notes by Czechoslovak Group a.s.

The transaction involved the issuance of US$1 billion 6.500% senior secured notes due 2031 and €1 billion 5.250% senior secured notes due 2031, offered under Rule 144A and Regulation S. The proceeds of the dual-tranche offering will support the refinancing of certain existing indebtedness of Czechoslovak Group and its ongoing growth strategy. The transaction benefited from strong investor demand, with the original offer being more than four times oversubscribed.

White & Case partner Petr Hudec, who co-led the Firm’s deal team, said: “This transaction marks an immensely successful issuance by Czechoslovak Group. The notes benefit from a comprehensive collateral package and had to be integrated into the group’s overall financing structure. The transaction required coordination across more than seven jurisdictions within a very short timeframe. I am grateful that we could contribute to the group’s ongoing growth strategy and help bring such an impactful deal over the line. It is a testament to our Firm’s reputation for successfully handling similar complex high value transactions.”

Czechoslovak Group is a leading defense, industrial and technology group with global operations. It comprises a diverse portfolio of manufacturing and trading companies active in key sectors including defense, automotive, aerospace and the railway industry. The group employs more than 14,000 people across 37 production facilities, primarily in the EU and the US, with products delivered to more than 110 countries worldwide.

The White & Case team that advised on the transaction was led by partners Yannick Adler (Frankfurt) and Petr Hudec (Prague) and included partners Gernot Wagner, Rebecca Emory (both Frankfurt) and James Greene (London), local partner Jana Chwaszcz (Prague) and associates David Mikyska (Prague), Phoebos Lazaratos, Jan-Christopher Wilhelms and Matthew Johnston and international attorney Zgjim Mikullovci (all Frankfurt).

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