Clifford Chance Prague acted as a Czech legal counsel to the sole lead manager J&T BANKA and the arranger J&T IB and Capital Markets on successful increase of issue of CZK 6.5 % bonds to CZK 1.06 billion by the issuer ENERGO-PRO Green Finance. The bonds are secured by a guarantee provided by DK Holding Investments and pledge of a minority stake of shares in ENERGO-PRO a.s. The bonds have been admitted to trading on a regulated market of the Prague Stock Exchange.
ENERGO-PRO Green Finance is a member of the group of companies which core business is distribution, supply and generation of energy from renewable resources, in particular hydropower energy. The ENERGO-PRO group operates nearly 40 hydropower plants in Central and Eastern Europe, the Caucasus and the Black Sea Region (including hydropower plants Karakurt and Alpaslan 2 located in Turkey and representing the largest Czech investment in hydropower industry since November 1989) and is still expanding.
ENERGO-PRO Green Finace has issued bonds with total nominal value of CZK 530 million in 2020. J&T BANKA witnessed strong demand from investors for the additional bonds and expects that the bond issue will be increased from CZK 530 million to CZK 1.06 million.
The Clifford Chance team provided comprehensive Czech legal services in connection with the bond’s issue, including preparation of the prospectus and its supplement and terms and conditions of the bonds as well as security documentation and contractual arrangements between the arranger, manager, administrator and security agent, on one side, and issuer and guarantor of the bonds, on the other side. The team was supervised by Partner Miloš Felgr, managed by Senior Associate VladimĂr RĂ˝lich and assisted by Associate Pavel BoguskĂ˝ and Junior Lawyer KateĹ™ina Ĺ lapáková.
