IFLR 1000
The Guide to the World's Leading Financial Law Firms

Flying the flag for the domestic quarter, PRK Partners reinforces its position in the second tier and the firm is respected by clients and peers alike. Renowned for its aptitude in capital markets work across a broad spectrum of activity, the firm is engaged as local counsel for a host of high profile UK and US firms including Slaughter and May and Freshfields Bruckhaus Deringer.

Evidence of the firm's proficiency on the debt side comes in the form of advice to Crédit Agricole Corporate and Investment Bank as the arranger of Cetelem's €410 million debt issuance program (guaranteed by BNP Paribas). The firm also represented Ceská sporitelna as the lead manager of €205 million in municipal notes issued by the city of Prague.

The team also represented Ceskoslovenská obchodní banka as the lead manager of €82 million notes of Ceské dráhy (a leading Czech railway logistic group) and the Czech Banking Association in connection with the preparation of a model product annex for emissions allowances relating to the model Czech Master Agreement (based on the European Master Agreement) and the development of such a contract in Czech and English. Such advice includes adjustments for foreign exchange transactions, updating legal opinions on contracts and quarterly monitoring of documentation validity and legal opinions.

The firm's clientele is notable and also includes the European Investment Bank, ING Bank, Komercní banka, New World Resources, RBS and UniCredit.

PRK Partners occupy a unique space as the sole representative of tier two. "In my view, they're ahead of any other local law firm in terms of finance," says one partner and another agrees: "They're a solid banking firm and compete against us in local financing." Market commentators agree that the quality of the firm is sound but a top tier ranking is precluded by a decisive factor. "I will say that tier one firms will run and manage local and international transactions and PRK will be local counsel on international transactions or run domestic issues," says one competitor. Robert Nemec has been noted as someone who is "definitely visible" on the market.

The firm has been advising Komercní banka and RBS in connection with a syndicated loan to Bonatrans at €90 million. At €89 million, it also advised Equipment Finance Czech Republic in connection with intercreditor and other aspects of syndicated sale and lease-back financing for the refurbishment of rail carriages operated by Czech Railways.

In real estate finance, the firm has been advising Hypo Noe Gruppe Bank in connection with a €8 million secured acquisition loan to finance a real estate project of office building Avenir 3 in the Avenir Business Park in Prague. Moreover, PRK partners has been particularly active in renewable energy, having advised leading Czech banks (UniCredit Bank Ceská sporitelna, Raiffeisenbank, CSOB, Investkredit Bank) in connection with the financing of 75 photovoltaic power projects with a total capacity exceeding 100MW and €492 million.

PRK Partner's reputation for finance does not extend to its corporate practice. However, the firm's recent hire of the team at French firm Gide Loyrette Nouel after its closure is sure to boost the practice.

Last year the team advised McBride (a major European manufacturer of body care and household products) in regard to its purchase of a noted Czech manufacturer of cosmetics. Furthermore, it is advising Freshfields Bruckhaus Deringer in relation to the de-merger of ABN Amro.

PRK Partners is a highly reputable domestic powerhouse in the Czech Republic and it is looking to build itself market share in the Slovak Republic. One highlight for the firm this year saw it represent Ringier Axel Springer Media in its acquisition of a majority stake in Azet, the largest Slovakian internet portal, from its individual founders. This high profile transaction was the internet transaction of the year. "PRK Partners were acting for the buyer of an internet portal. They used the Czech partner from Prague [Martin Kriz] and he was good at M&A," one partner says. "PRK is heavily focused on clients from Czech. They have a strong corporate practice," another partner says.