Czech Republic

CPI Property Group, a central and Eastern European specialist, raised €550m from a hybrid bond on Tuesday, but the debt slumped on Wednesday when a US hedge fund with which it has been fighting a legal battle filed a new $1bn lawsuit in New York. David Greenbaum, CPI’s CFO, told GlobalCapital the allegations were ridiculous and had been concocted in a deliberate attempt to disrupt the deal.

CPI Property Group returned to the bond market on Tuesday, raising €550m with a hybrid callable in October 2025.

CPI Property Group hit screens on Monday, announcing a call to promote a new subordinated euro bond.

Kosmos Energy on Thursday announced a new seven year Reg S/144A dollar bond, callable in 2022.

PPF Arena has picked banks for its first ever bond, a Reg S senior euro benchmark with a tenor of four to six years.

CEZ, a Czech utility company, came to market for four year euros on Tuesday, returning to the currency for its largest deal since 2013.

Summit Partners has launched the first selldown of shares in Avast, the Czech cyber security company, since its £602m IPO on the London Stock Exchange in May.

When UK telecoms company Vodafone announced in May that it had agreed to buy some of US rival Liberty Global’s European operations, it said it would use existing cash, €3bn of mandatorily convertible bonds and new debt, including hybrid bonds to fund the €18.4bn acquisition. On Wednesday, Vodafone sold the hybrid bonds, using four different tenors in three currencies. Nigel Owen reports.

Czech company Atrium European Real Estate has hit the market with a deal first roadshowed in June, raising €300m with a seven year.

Czech company Atrium European Real Estate has said it is focusing on a seven year bond. That is the long end of the maturity range that had set for the note on Wednesday. But there are no signs yet of price guidance for the deal, which has already been postponed once.

Czech company Atrium European Real Estate is reviving its €300m bond issue this week with a shorter maturity, having roadshowed in June. The deal looks set to be one of the first out of the gates in the emerging markets this week, after a tumultuous summer for that asset class.

Czech firm EP Infrastructure has signed a €1.5bn syndicated loan that was subject to heavy scale-backs, after lenders offered the energy infrastructure company double the amount it was looking for.