White & Case has advised the Accolade Group on the issuance of CZK 3 billion 8.00% notes due 2029 with Ceska Sporitelna, J&T, and Komercni Banka as the arrangers and joint lead managers.
Accolade Holding is the holding company of the Accolade Group, which is mainly engaged in the investment into development, management, and leasing of industrial real estate for light manufacturing, logistics, and e-commerce. It operates industrial properties in the Czech Republic, Poland, Slovakia, and Spain.
According to White & Case, the notes were issued by Accolade Finco Czech 1 and guaranteed by Accolade Holding. "The issuance represents the first ever green bond issuance by a corporate issuer under Czech law. The funds are to be used to finance or refinance the group's projects that fall into the 'Green Buildings' category. The notes were publicly offered to retail investors and offered to institutional investors. The entire issue was oversubscribed and sold out in two weeks. The notes have been admitted to trading on the Regulated Market of the Prague Stock Exchange."
The White & Case team included Partner Petr Hudec, Counsel Petr Smerkl, and Associate Jan Vacula.
White & Case did not respond to our inquiry on the matter.
