Clifford Chance has advised a club of banks led by mandated lead arranger and sole global coordinator UniCredit Bank Czech Republic and Slovakia on their green and sustainability-linked long-term secured club financing for a Heimstaden Czech-owned residential portfolio in Ostrava and Pilsen.
The financing is guaranteed by Heimstaden Czech Pilsen and Sweden's Heimstaden Bostad. The lenders included arrangers Ceska Sporitelna, Ceskoslovenska Obchodni Banka, the European Bank for Reconstruction and Development, Intesa Sanpaolo, Komercni Banka, Raiffeisenbank, and Vseobecna Uverova Banka.
Heimstaden describes itself as a European residential real estate investor and manager with a mission to acquire and manage friendly homes focusing on sustainable and commercially outstanding operations.
According to Clifford Chance, the financing was provided in relation to a Czech residential portfolio located in Ostrava and Pilsen. “The funds will be used for liability management and to support sustainability investments such as thermal insulation, the installation of heat pumps, and a renewable fuel shift in Heimstaden Bostad's Czech residential properties.”
The Clifford Chance team included Partner Milos Felgr, Counsel Milan Rakosnik, Senior Associate Hana Cekalova, and Associates Ondrej Steco and Josef Lysonek.
Clifford Chance did not respond to our inquiry on the matter.