Dechert Honored in 2018 CEE Deal of the Year Awards

A Dechert LLP matter has been awarded ‘Deal of the Year for Albania’ by CEE Legal Matters at its Deals of the Year Awards for 2018. The contest, judged by a panel of lawyers from 17 jurisdictions in Central and Eastern Europe, was established to recognize the most outstanding deals in Europe’s emerging markets.

In the winning deal, Dechert lawyers advised the Republic of Albania on the successful issuance of a new 7-year €500 million benchmark international bond with a coupon of 3.50%, along with the completion of a €200 million capped tender offer of its existing €450 million 5.75% bond due November 2020.

The transaction marks the Republic of Albania’s successful return to international capital markets following its 5-year Eurobond issuance in November 2015, on which Dechert also advised. The new bond represents the longest tenor and lowest coupon ever achieved by the Republic in the Eurobonds markets. It is also the Republic’s inaugural Rule 144A offering, which has enabled the participation of onshore U.S. investors as qualified institutional buyers, thus contributing to a broadening of Albania’s investor base.

The winners were announced at the CEE Legal Matters annual awards ceremony on March 28 in Budapest.

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