Allen & Overy has advised Czech Gas Networks Investments S.a r.l on its first-ever green issuance and placement of EUR 500 million green notes with investors on international capital markets. Clifford Chance advised the joint bookrunners Citigroup Global Markets Limited, ING Bank N.V., Societe Generale, and UniCredit Bank AG.
According to Allen & Overy, “the green notes, rated BBB+ by both S&P and Fitch, have been listed on the Global Exchange Market of the Irish Stock Exchange plc trading as Euronext Dublin. The proceeds from the issuance will be used exclusively for financing or refinancing of new or existing eligible projects under the CGNI’s Green Finance Framework.”
According to the firm, CGNI, which is owned by a consortium of long-term infrastructure investors, holds 100% of the share capital of Czech Grid Holding, a.s., which in turn fully controls two core Czech businesses, operated by its subsidiaries: GasNet, s.r.o. and GasNet Sluzby, s.r.o.
Earlier this year, Allen & Overy advised CGNI on a EUR-Denominated Note Issuance and Placement (as reported by CEE Legal Matters on April 14, 2021).
Allen & Overy’s team in Prague included Partner Petr Vybiral, Senior Associate Jana Chwaszcz, and Junior Lawyer Denisa Jonasova, with a further team in Luxembourg including Partner Paul Peporte and Associate Ruslana Hrischeva.