Wolf Theiss advised Česká spořitelna of new covered bonds programme

Prague – 5 May 2021 – Wolf Theiss advised Česká spořitelna, part of Erste Group and the biggest bank operating on the Czech market, on the establishment of the new covered bonds programme* and on related issue of covered bonds under this programme. The covered bonds programme enables Česká spořitelna to issue mortgage covered bonds, public covered bonds and mixed covered bonds with an option of being issued as CRR compliant covered bonds.

The covered bonds programme was prepared under Czech law and EU regulations and was approved by the Financial Market Authority Austria (FMA) and notified to the Czech National Bank (CNB).

The following types of covered bonds may be issued under the programme: covered bonds with a fixed interest rate, covered bonds with a floating interest rate, covered bonds without periodic interest payments and covered bonds with a fixed to floating interest rate.

The covered bonds programme and/or the covered bonds may be admitted to the Official Market (Amtlicher Handel) of the Vienna Stock Exchange (Wiener Börse) and/or to the Regulated Market of the Prague Stock Exchange (Burza cenných papírů Praha). In April 2021, the covered bonds programme was admitted to the Official Market of the Vienna Stock Exchange.

The Wolf Theiss team consisted of Robert David (Partner), Filip Michalec (Senior Associate), Nikolaus Dinhof (Senior Associate) and Sebastian Prakljacic (Associate).

*Visit csas.cz