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Dentons and Clifford Chance Advise on Globe Trade Centre Issuance

Dentons and Clifford Chance Advise on Globe Trade Centre Issuance

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Dentons has advised Globe Trade Centre S.A. on its EUR 500 million debut issuance of unsecured green bonds with a coupon of 2.25% per annum, maturing on June 23, 2026. Clifford Chance advised the banks involved, including joint bookrunners J.P. Morgan, Morgan Stanley, Erste Group, and Raiffeisen Bank International.

J.P. Morgan and Morgan Stanley also acted as joint global coordinators, with J.P. Morgan as sole rating advisor and green structuring agent. According to Dentons, "the issue was heavily oversubscribed, with books exceeding EUR 1.4 billion."

GTC is a Warsaw-based real estate developer and investor focusing on Poland and the capitals of Central and Eastern Europe. According to Dentons, "GTC plans to use the funds raised to refinance a portfolio of its green assets outlined in the green bond framework. At present, 84% of GTC's assets carry a green certification, with the eventual goal of 100% green certification for all assets in the portfolio."

Dentons’ team was led by Partner Nick Hayday and included London-based Senior Associate Moeen Qayum and Trainee Ed Varney, Dublin-based Senior Associate John Kearns, Warsaw-based Partners Jakub Celinski and Cezary Przygodzki, Counsel Tomasz Krasowski, and Trainee Marcin Urbanski, Luxembourg-based Partners Namik Ramic and Stephane Hadet, Counsel Olivier Lesage, and Associate Jeff Nitschaeff, and Budapest-based Partner Istvan Reczicza.

Clifford Chance's team included Partners Paul Deakins and Grzegorz Namiotkiewicz and Senior Associates Russell Harris and Aleksandra Rudzinska.

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