Kretinsky EPH Group

William Malcolm

EPH To Issue €200 Million In Bonds

Billionaire Daniel Kretinsky’s EPH plans to issue five-year bonds worth €200 million, which may increase to €300 million. 

It will be one of the most significant bond issues on the Czech market, says Tomas Pfeiler of Cyrrus brokerage.

The bond underwriters are J&T Banka, Beska sporitelna, Komercni banka and UniCredit Bank. 

A public offer is planned on the Czech and possibly Slovak markets after regulatory approval is secured. EPH Financing CZ intends to list the bonds for trading on the Prague Stock Exchange.

Bond issue parameters

  • EPH subsidiary Financing CZ will issue the bonds
  • Nominal value: €400
  • 4.5% fixed interest rate paid semiannually

This isn’t EPH’s first bond issuance. In 2018, it issued 4-year bonds valued at €120 million.

In 2019, EP Infrastructure issued eight-year bonds for around €72 million.

EPH is active in several countries in the production and distribution of energy and mining.

Daniel Kretinsky, who is also co-owner and publisher of the E15 daily newspaper and Sparta Praha football club, holds a controlling 94% stake in EPH.