Global law firm White & Case LLP has acted as transaction counsel on a CZK 1.25 billion retail domestic bond issuance of the European pharmacy chain Dr. Max, which follows its 2023 debut CZK 5 billion retail domestic bond issuance on which the Firm advised the arrangers and joint lead managers.
"These successful bond issuances, in a total amount equal to approximately €250 million, represent an important milestone for Dr. Max," said White & Case partner Petr Hudec, who led the Firm's deal team. "The proceeds will help fund further development of its operational activities, including continued expansion of its business abroad."
The notes are issued by Dr. Max Funding CR, s.r.o. and guaranteed by its holding company Glebi Holdings PLC, and are listed on the Prague stock exchange. Česká spořitelna, Komerční banka and UniCredit Bank Czech Republic and Slovakia acted as arrangers and joint lead managers, with Privatbanka acting as manager, on the recent issuance.
Dr. Max is fully owned by European investment group Penta Investments, which invests in health insurance, hospitals, outpatient clinics, pharmacies and laboratories. Dr. Max's business streams include omnichannel pharmacies, wholesale and sales and marketing divisions.
The White & Case team in Prague which advised on the transaction was led by partner Petr Hudec and included counsel Petr Šmerkl and associates Jan Vacula and Josef Levy.
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