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Erste Group Manages Bond Issue of Czech Railways
The order book grew in only one hour to € 400m from 60 institutional investors. Approximately 75% have been subscribed by investors from Germany, the Czech Republic and Austria.
Erste Group Manages Bond Issue of Czech Railways / Picture: © Erste Group / Christian Wind
Erste Group Bank AG, mandated as joint lead manager, successfully arranged the € 300m five-year bond issue for České dráhy (Czech Railways). The issue was priced at a spread of mid-swaps +190 bps, maturing in June 24, 2016 with an annual coupon of 4.5%. Due to strong investors’ demand, mainly from fund managers, banks, central banks and insurance companies, the offering was well…
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