Linklaters advises the banks’ syndicate on the inaugural "AT1" bonds issue by Promontoria MMB

Linklaters has advised the banks’ syndicate on the inaugural "AT1" bonds issue of an aggregate nominal amount of €100,000,000 by Promontoria MMB.

The bonds are deeply subordinated obligations of Promontoria MMB and bear interest at a rate of 8 per cent. with a first call date falling on 30 October 2024. The bonds are listed on the regulated market of Euronext in Paris.

The proceeds of the bonds will be applied for the general corporate purposes of Promontoria MMB and to increase its own funds.

The Linklaters team was led by Véronique Delaittre, partner accompanied by Sandra Fernandes, senior associate and Antoine Galvier, associate. Nadine Eng, senior associate intervened on tax related matters.