Global law firm White & Case LLP has advised ENERGO-PRO Green Finance s.r.o. as issuer on its CZK 3.5 billion retail domestic offering of green notes due 2029, issued by ENERGO-PRO Green Finance s.r.o., guaranteed by its holding company DK Holding Investments, s.r.o. and secured over shares in ENERGO - PRO a.s. and certain other assets of DK Holding Investments, s.r.o.
The notes have been admitted to trading on the regulated market of the Prague Stock Exchange. J&T IB and Capital Markets a.s. acted as arranger, and J&T BANKA, a.s. and UniCredit Bank Czech Republic and Slovakia, a.s. as managers.
The deal represents one of the first issuances of green domestic bonds by a corporate issuer under Czech law. White & Case advised on the first such issuance earlier in 2024.
"We are pleased with the strong demand for our green bonds, indicating that renewable power generation, infrastructure and storage assets appeal to domestic investors," said Christian Blatchford, General Counsel and Chairman of the Supervisory Board at ENERGO-PRO. "The White & Case team provided us with great legal support, navigating us through the process and helping us in particular to reflect our sustainable finance framework in the transaction documentation. This allowed us to close within a challenging timeline and take a significant forward step in our sustainability journey."
"The transaction demonstrates ENERGO-PRO's ability to successfully tap into both the international and domestic bond market," said White & Case partner Pert Hudec, who led the Firm's deal team. "It also reinforces the organization's commitment to sustainability and supports the development of green energy infrastructure across several countries."
White & Case previously advised ENERGO-PRO on international bonds issuances, including its issuance of €300 million senior unsecured notes and the first issuance of European bonds guaranteed by the US International Development Finance Corporation.
The DK Holding Investments group includes the ENERGO-PRO group and operates a portfolio of 49 hydropower plants in Bulgaria, Georgia, Türkiye, Spain and the Czech Republic. In addition, it is developing hydropower plants in Colombia and owns and operates electricity distribution networks in Bulgaria and Georgia.
The White & Case team in Prague that advised on the transactions was led by partner Petr Hudec and included counsel Petr Šmerkl, associates Jan Vacula and Jakub Kopáček and legal intern Josef Levy.
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