Clifford Chance Prague has advised CTP, an industrial developer in the CEE region, on a EUR 1.9 billion underwriting package agreement with Erste Group Bank AG, Ceska Sporitelna a.s., Societe Generale S.A. and Komercni Banka a.s., and UniCredit S.p.A. and UniCredit Bank Czech Republic and Slovakia a.s.
The agreement covers CTP’s Czech industrial portfolio, which includes 200 buildings and covers 2.7 million square meters of industrial space. White & Case advised the banks and DLA Piper advised Deutsche Pfandbriefbank AG as the security agent for the transaction.
CTP describes the deal as “the largest real estate transaction to date in Central and Eastern Europe." The seven-year loans providing for the refinancing of EUR 1.6 billion of existing properties and extending EUR 269 million in new financing for projects to be completed in the next 18 months. The transaction consolidates 40 existing loan agreements into one syndicated loan.
The Clifford Chance team included Partners Milos Felgr and Emil Holub, Senior Associates Marian Husar and Milan Rakosnik, and Associates Dominik Vojta and Jan Strnad.
The White & Case team included Partners Jan Linda, Petr Panek, and Vaclav Kubr, and Associate Radek Kraus.
The DLA Piper Prague team included Partner Jakub Adam and Counsel Petr Koblovsky.
