TRANSACTION INTERVIEW 97 The fact that more than 45.000 retail investors subscribed to bonds in 550 branches within one week, and that no single legal or other risk occurred, is proof we all did great job in structuring this transaction and execution of it. www.miskovic.eu investors used this opportunity to invest and get larger returns (3.65% p.a.) compared what the banks offered on the deposits at that point in time (below 0.5% p.a.). At the end, the state itself has found a new source of funding – its citizens. According to the data of the Croatian National Bank, this source is full of money – more than €30 billion is sitting in deposits at the local banks. Institutional investors took the opportunity as well, since €500 million out of the €1.85 billion issuance was allocated to them – although their ask was doubled as it was allocated to institutional investors. It is reasonable to expect that the state will once again issue this kind of bond in the midterm period. Do you typically advise on this kind of matters? Our law firm was established in 2018, under the enthusiasm of the founders and their specific background and impressive careers. We are focused on providing exceptional service and support, always going the extra mile. That is way, in our work so far, we have been engaged by the most prominent banks in Croatia for the most complex transactions, such as this one. For instance, last year we advised the six largest local banks in a €240 million loan to the company 100% owned by the city of Zagreb, capital of Croatia, but we have also been engaged as legal advisors in several capital market transactions, especially in the bond issuance process. So, I guess we can say that we have a strong presence in banking and finance and capital market transactions in Croatia. But this is not the only thing we do – we have a great team which is dedicated in the field of M&A, and we are also fully focused on new industries, such as IT, where most prominent Croatian start-ups have entrusted us as their legal and strategic advisors. In the end, our word is our bond and we will deliver no matter the circumstances. Legal Advisor on the transaction:
RkJQdWJsaXNoZXIy Mjk3Mzkz