White & Case advises Accolade on CZK 3 billion debut green bonds issuance; first domestic green bond issuance by a Czech corporate issuer

Global law firm White & Case LLP has advised the Accolade Group on the issuance of CZK 3 billion 8.00% notes due 2029, issued by Accolade Finco Czech 1, s.r.o. and guaranteed by Accolade Holding, a.s.

White & Case partner Petr Hudec, who led the Firm's deal team, said: "This successful debut transaction not only highlights the growing investor appetite for sustainable investment opportunities, but also provided us with yet another opportunity to bring our international expertise to the domestic market."

The issuance represents the first ever green bond issuance by a corporate issuer under Czech law. The funds are to be used to finance or refinance the Group's projects that fall into the 'Green Buildings' category. The notes were publicly offered to retail investors and offered to institutional investors. The entire issue was oversubscribed and sold out in two weeks. The notes have been admitted to trading on the Regulated Market of the Prague Stock Exchange. Česká spořitelna, J&T and Komerční banka, acted as arrangers and joint lead managers.

"We are greatly honored by the strong demand for our green bonds. This is clear evidence that the opportunity to contribute to the further development of sustainable infrastructure for modern European businesses resonates with local investors. The success of the recent bond issue is based on the excellent work of our internal teams, as well as the professional support from the consortium of participating banks and other partners, including experts from White & Case. I would like to thank them for their tremendous effort and cooperation," said Jitka Bortlíčková, Group Legal Counsel at Accolade Group.

Accolade Holding, a.s. is the holding company of the Accolade Group, which is mainly engaged in the investment into development, management and leasing of industrial real estate for light manufacturing, logistics and e-commerce. It operates industrial properties in the Czech Republic, Poland, Slovakia and Spain. In addition, Accolade Holding, a.s. maintains 100 percent of founders' shares and approximately 6 percent of investor shares in Accolade Fund SICAV plc (Accolade Industrial Fund – AIF), a prime industrial real estate fund open to investments from qualified investors. It also operates the Brno Tuřany International Airport, the second largest airport in the Czech Republic in terms of the number of passengers.

The White & Case team in Prague which advised on the transaction was led by partner Petr Hudec and included counsel Petr Šmerkl and associate Jan Vacula.

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