Posts

Dentons advises on largest real estate loan in Slovakia in recent years

Dentons’ Banking and Finance team in Bratislava has advised a club of banks led by Tatra banka (a member of the Raiffeisen Group), which teamed up with Slovenská sporiteľňa (a member of the Erste Group) and UniCredit Bank Czech Republic and Slovakia on one of the largest real estate loans in Slovakia in recent years. The €116 million loan was provided to Eurovea 2, s.r.o. and will be used to construct the extension of the Eurovea shopping centre and Pribinova X office building in Bratislava. The developer JTRE began construction work on the extension in December 2019, with phased completion expected in 2022 and 2023.

Partner Stanislava Valientová led the team, supported by Managing Counsel Jozef Buday, and associates Richard Marcinčin and Peter Panek.

“Our amazing team again successfully and smoothly carried out the whole transaction to the great satisfaction of our clients. For several years now, we’ve had the honour to be the legal advisers of the financing banks on the landmark EUROVEA project in Bratislava.  We look forward to our future cooperation,” commented Stanislava Valientová, Co-Head of Dentons’ Banking and Finance practice in Bratislava.

“I was glad to support this project to build exclusive residences and retail spaces, which will contribute to the further development of our city.” commented Jozef Buday, Co-Head of the Real estate Practice Group in Dentons Bratislava.

About Dentons

Dentons is the world’s largest law firm, connecting top-tier talent to the world’s challenges and opportunities with 20000 professionals including 12000 lawyers, in more than 200 locations, in more than 80 countries. Dentons’ polycentric and purpose-driven approach, commitment to inclusion and diversity, and award-winning client service challenge the status quo to advance client interests.

Hogan Lovells advises banks on Eurogrid green bonds placement

Led by Frankfurt partner Jochen Seitz, the international law firm Hogan Lovells advised the joint lead managers consisting of UniCredit Bank (technical lead), BNP Paribas and Rabobank on the placement of Eurogrid GmbH’s first green bonds with an issue volume of EUR 750 million.

The corporate bond with a term of 12 years and an interest rate of 1.113 percent was successfully placed on 15 May 2020 and admitted to the regulated market in Luxembourg. Hogan Lovells had previously advised the dealers on the update of the debt issuance programme with Commerzbank as arranger.

With its first Green Bond, Eurogrid GmbH, parent company of the transmission system operator 50Hertz Transmission GmbH, secures the financing of investments in a portfolio of selected projects and facilities of 50Hertz Transmission GmbH and its subsidiary 50Hertz Offshore GmbH within its Green Bond Framework. These serve in particular to integrate offshore wind energy into the transmission grid on land and thus to expand the grid necessary for the energy turnaround. Examples of projects currently selected under the Green Bond Framework are the offshore projects Ostwind 1 and Ostwind 2, which involve the construction of grid connections for several offshore wind farms northeast of Rügen.

Hogan Lovells team for the bank consortium:

  • Dr. Jochen Seitz (Partner), Dr. Stefan Schrewe, Frank Salzgeber (Associates) (all Capital Markets);
  • Dr. Jörg Herwig (Partner), Simon Theis (Senior Associate) (both Corporate).

Jochen Seitz and his team have been advising the banks on the programme and issuances since its launch in 2015.