King & Spalding has advised the syndicate of joint lead managers on Telekom Srbija Beograd’s USD 900 million senior notes offering. Gecic Law, working with Clifford Chance, advised Telekom Srbija.
Telekom Srbija is the state-owned telecommunications company of Serbia.
According to King & Spalding, "this offering also marks the largest inaugural single-tranche issuance from a Central and Eastern Europe corporate since 2011 and is the first Serbian corporate to issue a benchmark Eurobond in the international debt capital markets" and is also "the largest inaugural high-yield bond transaction in the technology, media, and telecommunications sector in Central and Eastern Europe, the Middle East, and Africa since 2014."
According to Gecic Law, "listed on the Dublin Euronext Exchange, Telekom Srbija’s bond offering was met with overwhelming global investor interest, signaling deep trust in the company’s innovative corporate strategy. This groundbreaking deal empowers Telekom Srbija to reinforce its investment capabilities and expand its infrastructure, demonstrating the solid confidence prominent international investors place in the Group’s visionary growth under its dynamic leadership."
The King & Spalding team included Partner Peter Schwartz, Counsel Andro Atlaga, Associates Riccardo Maggi Novaretti and Valmir Merkaj, and Paralegal Gozde Berkil.
The Clifford Chance team was led by London-based Partners Drew Rundus and Paul Deakins and Included Brussels-based Partner Anastasios Tomtsis.
The Gecic Law team included Partners Bogdan Gecic, Ognjen Colic, and Miodrag Jevtic, Counsels Milos Petakovic and Nemanja Sladakovic, Senior Associates Vuk Lekovic and Zarko Popovic, and Associates Vasilije Boskovic, Nikola Ivkovic, and Marko Jovic.
Editor's Note: After this article was published, CMS announced that it advised the banks alongside King & Spalding, including Bank of America, BNP Paribas, Deutsche Bank, Erste Group, MUFG Bank, Raiffeisen Bank International, and UniCredit. The firm's team included Partners Milica Popovic, Radivoje Petrikic, and Marija Tesic, Senior Lawyers Ksenija Boreta and Jovana Bingulac, and Lawyer Milica Tomic.
Additionally, Karanovic & Partners announced it advised the joint lead managers on the legal framework guiding derivative transactions with corporates in Serbia, including the negotiation and execution of ISDA Master Agreements with Telekom Srbija Beograd. The firm's team included Partner Katarina Guduric and Senior Associate Marija Vicic Simic.