Clifford Chance Prague has advised a club of banks led by UniCredit Bank Czech Republic and Slovakia, a.s., as mandated lead arranger and sole global coordinator, and with Česká spořitelna, Československá obchodní banka, European Bank for Reconstruction and Development (EBRD), Intesa Sanpaolo, Komerční banka, Raiffeisenbank and Všeobecná úverová banka as arrangers, in connection with green and sustainability-linked long-term secured club financing relating to Czech residential portfolio located in Ostrava and Pilsen provided to Heimstaden Czech s.r.o. and guaranteed by Heimstaden Czech Pilsen s.r.o. and Heimstaden Bostad AB, Sweden.

The funds will be used for liability management and to support sustainability investments such as thermal insulation, installation of heat pumps, and renewable fuel shift in Heimstaden Bostad’s Czech residential properties.

“This complex, multi-jurisdictional transaction with several lending institutions, including EBRD, involved aspects of large corporate as well as real estate financing and is another ‘green financing’ project that we were working on. We are pleased to see the number of ESG-friendly transactions growing, as this is aligned with our sustainability vision.” commented Partner Miloš Felgr on this transaction.

Heimstaden is a leading European residential real estate investor and manager with a mission to acquire and manage Friendly Homes focusing on sustainable and commercially outstanding operations.

The multidisciplinary Clifford Chance team was led by Partner Miloš Felgr. The core team further consisted of Senior Associate Hana Čekalová, Counsel Milan Rákosník, and Associates Ondřej Šteco and Josef Lysoněk.