White & Case advises CaixaBank on sustainability-linked loan with ČEZ

Global law firm White & Case LLP has advised Spanish financial services group CaixaBank, S.A. on the successful negotiation of a sustainability-linked loan to ČEZ Group.

White & Case partner Tomáš Jíně, who led the Firm’s deal team, said: “ČEZ’s recent successful funding adds to White & Case’s extensive expertise advising on ESG-linked margin structuring.”

ČEZ closed the first line of credit linked to ESG indicators worth CZK 7.5 billion in the summer of 2023 with UniCredit, followed by a credit line with the Všeobecná úvěrová banka (owned by Banca Intensa) worth CZK 3 billion. With the most recent line from CaixaBank, the aggregate volume of available ESG-linked loans amounts to approximately CZK 13 billion. As with the two previous credit agreements, if ČEZ meets its decarbonisation commitments in the coming years it will obtain a more favourable interest rate at draw-down, whereas if its ESG parameters deteriorate its interest rate will increase.

ČEZ is one of the largest companies in the Czech Republic and a leading energy group operating in Western and Central Europe.

The White & Case team in Prague which advised on the transaction was led by partner Tomáš Jíně and included associate Tadeáš Matys.

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