CMS has advised a club of Czech banks consisting of Česká spořitelna, a.s., Československá obchodní banka, a. s., Komerční banka, a.s., and Raiffeisenbank a.s. on a complex financing for the Smarty BRANDS. Group.
The financing serves to refinance the group's existing debt while also providing additional funds for operational needs of the group and its investment targets for 2025.
The main benefit of the new financing is consolidation of the existing bilateral lenders under one umbrella facilities agreement, aligning the terms of the financing previously provided by the lenders separately. Additionally, selected lenders continue to provide standalone financing supported by the European Investment Fund, which required incorporating various intercreditor provisions directly in the facilities agreement allowing the bilateral financing to co-exist along the senior financing. The new financing provides the group with enhanced financial stability and flexibility for its future growth and investment plans.
The CMS cross-border team was led by partner Petra Myšáková, supported by David Bujgl, Matěj Eberle and Michal Václavík (all Banking & Finance), ensuring a seamless and efficient execution of this complex transaction. Zuzana Nikodémová handled the legal aspects of the transaction under Slovak law.
Smarty BRANDS. Group, 100% owned by Petr Syrůček, is a leading Czech retailer and distributor of consumer electronics, mobile phones, IT products, and gaming accessories. The company operates a network of 45+ retail stores and several e-commerce platforms, offering a broad range of products and services to both consumers and commercial clients. Smarty is also involved in serving enterprise customers, making it a key player in the Czech technology and retail sectors. 2024 turnover exceeded 5.5bn CZK which meant a new record in the company’s history. The group is also active on the Slovak market.
