Global law firm White & Case LLP has advised ČEZ Group on the issuance of €750 million 4.125% sustainability-linked notes due 2033 under its €8 billion EMTN programme.
The transaction represents one of the rare issuances of sustainability-linked notes by a Czech issuer. The notes grant investors the right to receive a 0.75% redemption premium paid at maturity if ČEZ Group fails to meet its set greenhouse gas emission intensity target. The notes are admitted to trading on the regulated market of the Luxembourg Stock Exchange and followed the annual update of the company’s EMTN programme, on which White & Case represented the company earlier this year. CaixaBank, Citigroup Global Markets Europe, Intesa Sanpaolo, Raiffeisen Bank International, SMBC Bank EU, Société Générale and UniCredit Bank acted as joint lead managers, and PKO Bank Polski as co-manager.
“The transaction reflects ČEZ Group’s ongoing focus on sustainability and marks another important step in its energy transition,” said White & Case partner Petr Hudec, who led the Firm’s deal team. “ČEZ Group is by far the largest Czech issuer of sustainability-linked debt. We are glad we could assist the company with yet another milestone transaction in the international capital markets as part of its transition journey.”
ČEZ Group is the largest electricity generation and electricity and gas distribution company in the Czech Republic, one of the largest companies in the Czech Republic and a leading energy group operating in Central Europe.
The White & Case team that advised on the transaction consisted of partner Petr Hudec, local partner Jan Vacula and associate Josef Levy in Prague and partner Stuart Matty in London.
Press contact
For more information please speak to your local media contact.
Read the orginal article: https://www.whitecase.com/news/press-release/white-case-advises-cez-group-eu750-million-sustainability-linked-note-issuance
