Capital Markets Guide

Capital Markets Guide

The global financial crisis that started in 2008 significantly affected much of the Eurozone and caused bank lending volumes in many parts of Europe to decline significantly. In addition, Basel III capital and liquidity rules have required banks to strengthen their balance sheets, and this too seems to be transforming Europe’s bank-lending-dominated debt markets. Businesses are more aware of the need to diversify funding sources as a result of these changes in the economic and regulatory environment.

Over the past few years, both domestic and foreign issuers have increasingly been tapping capital markets in Central and Southeastern Europe as these have developed further and become more mature.

Understanding the local legal framework and peculiarities is critical to successfully accessing funding on these capital markets. We have therefore identified the need to develop a basic – but practical – guide to assist market participants in familiarizing themselves with the relevant legal issues when preparing for a public or private offering in the CEE region. It is a great pleasure to present our capital markets guide, which offers insights into the key capital markets legislation in Austria, Bulgaria, the Czech Republic, Hungary, Poland, Romania, Slovakia, Slovenia, Turkey, and Ukraine. Summary tables compare local frameworks, presenting similarities and highlighting local peculiarities, while country chapters in the form of Q&A’s provide more detailed insights.