Clifford Chance has advised mBank on the PLN 75 million issuance of two series of green bonds by R.Power. White & Case reportedly advised R.Power.
According to Clifford Chance, "the bonds were taken up by Bank Gospodarstwa Krajowego and mBank. The funds raised will be used to develop a portfolio of projects in Poland and abroad."
"The issued bonds meet the criteria for the issue of green bonds in accordance with the Green Bond Principles developed by the International Capital Market Association, primarily in terms of allocating the funds from the issue to finance investments that have a positive impact on the environment by taking into account environmental and ecological aspects in their implementation, and thus supporting sustainable development," the firm informed.
The R.Power Group operates in the photovoltaic sector in Poland. The company is also developing projects in other European countries, including Italy, Spain, Portugal, and Romania.
Clifford Chance previously advised mBank on R.Power's PLN 1 billion green bond issuance program (as reported by CEE Legal Matters on June 16, 2021).
The Clifford Chance team included Partner Milosz Golab, Senior Associate Aleksandra Rudzinska, Associate Zuzanna Bartczak, and Legal Intern Krzysztof Burda.