Clifford Chance advises club of banks on the largest loan ever provided for the purpose of financing sole industrial property in the CEE region

Clifford Chance has advised a club of lenders comprising of Komerční banka, Česká spořitelna and Raiffeisenbank in connection to a financing in the amount of EUR 137,5 million (approximately CZK 3,4 billion) to Accolade group. This makes for the largest loan ever provided for the purpose of financing sole leasable industrial property in the CEE region.

Accolade will be using the money to finance the construction and long-term ownership of automated distribution centre, which is being built in Kojetín near the D1 highway. The total surface area of the three-story premise will be more than 187,000 square metres.

The banks initiated a thorough assessment of the project prior to approving the loan, analysing not only the sustainability of the financing but also the ecological aspects. The area of the warehouse will include natural elements, such as dedicated areas for insect and lizards and there is a plan to plant around 500 trees in the area. The heating of the premises will be powered by heath pumps and there will be photovoltaic panels installed on the roof.

The team was led by Miloš Felgr, Partner of Global Financial Markets practice and Real Estate Counsel Milan Rákosník. They were further supported by Associates Tereza Řehořová and Josef Lysoněk and Junior Lawyers Adam Šimice and Tomáš Kubala.