Czech Republic

Czech energy distributor EP Infrastructure came to market on Tuesday morning for a seven year Reg S benchmark — its second ever bond. The bond had been announced on Monday as a dual tranche six year and 10 year.

CTP, a commercial real estate developer based in Czech Republic, has signed a €1.9bn loan in one of the largest real estate packages to enter the syndicated loans market in central and eastern Europe ever.

Ceske Drahy, the Czech national railway company, hit screens on Thursday announcing a euro benchmark, returning to the bond market for the first time in three years.

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.