Allen & Overy announced today that it has advised Raiffeisenbank a.s. on its EUR 350 million issuance of senior non-preferred MREL-eligible green notes issued under its international debt issuance programme. It is a unique and first-of-its-kind transaction in the CEE region.
Raiffeisenbank established the programme in close cooperation with A&O in November 2020. The notes were issued under German law, but their status as senior non-preferred and MREL-eligible instruments is also governed by the applicable Czech rules. The notes were accepted for trading on the Luxembourg Stock Exchange.
The A&O team on this transaction was led by partner Petr Vybíral in close cooperation with associate Tomáš Kafka and junior lawyer Josef Pavlíček. German law advice was provided by partner Stefan Henkelmann and counsel Jens Nollmann.
Tomáš Jelínek, Member of the Board of Raiffeisenbank responsible for Markets and Investment Banking at Raiffeisenbank, commented: “Smooth process of the whole transaction proves that A&O team delivered an excellent service that further strengthens the position of A&O as chosen legal partner of Raiffeisenbank in the area of debt capital markets.”
Partner Petr Vybíral added: “We are very pleased to have had the opportunity to advise our longstanding client, Raiffeisenbank, on yet another novel and high-profile transaction combining aspects of rules applicable to our client’s MREL requirements and the increasingly topical green bond issuance rules.”