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Bird & Bird and CMS Advise on Flex's HUF 100 Billion Bond Issuance

Bird & Bird and CMS Advise on Flex's HUF 100 Billion Bond Issuance

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Bird & Bird has advised the Hungarian subsidiary of electronics manufacturer Flex on its HUF 100 billion primary offering of bonds. CMS advised lead arranger Raiffeisen.

According to Bird & Bird, the bonds were placed with the National Bank of Hungary and other institutional investors, are secured by a Hungarian law parent company guarantee of equivalent value from December 2021, and registered on the Xbond multilateral trading facility operated by the Budapest Stock Exchange.

"This transaction marks the entry of Flex into the growing Hungarian bond market with the support of the Bond Funding for Growth Scheme launched by the NBH on July 1, 2019," a firm press statement informed. "By increasing the liquidity of the bond market, the NBH intends to improve the efficiency of monetary policy transmission and to also encourage economic actors to rely on this type of financing, in addition to bank loans, to a sufficient proportion."

The Bird & Bird team was led by Partner Konrad Siegler and included Associates Gabor Szabo, Gyorgy Boros, and Anna Hetyesy.

The CMS team consisted of Managing Partner Erika Papp, Senior Consultant Arpad Lantos, and Senior Associate Sandor Kovacs.

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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