Dentons Advises CPIPG on Sustainable Loan
Dentons, a global law firm, assisted CPI Property Group (CPIPG), a prominent owner of income-generating European real estate, in securing its first sustainability-linked loan via a bilateral facility with MUFG.
CPIPG secured a five-year senior unsecured loan of €100 million for general corporate purposes. The loan's margin will fluctuate annually, starting in 2023, based on the fulfilment of specific milestones toward reducing the greenhouse gas emissions of CPIPG's property portfolio as part of the company's sustainability commitment.
Jiří Tomola, a partner based in Prague, led Dentons' legal team on the transaction, with support from associates Ondřej Valeš and Leontýna Bártová. The team collaborated with London-based partner Nick Hayday, senior lawyer David Ferris, and associate Zeeshan Hussain. Additionally, Stéphane Hadet, a partner, and Christophe Renaudin, counsel, provided legal guidance on Luxembourg law matters.
Jiří Tomola said: “CPIPG is a longstanding and highly valued client. We have advised the group on numerous high-value financing, capital markets, and real estate transactions in recent years, including its €700 million debut sustainability-linked bond issuance and the update of its Euro Medium Term Note Programme, under which the sustainability-linked bonds were issued. We are delighted to have had the opportunity to continue supporting CPIPG on another significant transaction that increases the pool of capital available to the group based on its strong commitment to sustainability standards.”
Martin Matula, General Counsel of CPIPG, added: “CPIPG is proud to be a leader in sustainable financing, and once again, we have appreciated having Dentons by our side to facilitate an efficient transaction process.”