Dentons acted for CPI Property Group on €100m Sustainability-Linked Loan from MUFG

Dentons acted for CPI Property Group on €100m Sustainability-Linked Loan from MUFG

Dentons, a prominent global law firm, provided legal guidance to CPI Property Group (CPIPG), a significant European real estate owner generating income, in its first sustainability-linked loan.

The loan is a bilateral facility arranged with MUFG Bank and is for general corporate purposes, with a total of €100 million to be repaid over five years.

CPIPG's pledge to reduce greenhouse gas emissions from its property portfolio is reflected in the loan's annual margin adjustment, commencing in 2023, based on the fulfilment of specific milestones related to this commitment.

Dentons' legal team, spearheaded by partner Jiří Tomola based in Prague, oversaw the transaction and was assisted by associates Ondřej Valeš and Leontýna Bártová. The team collaborated with partner Nick Hayday, senior lawyer David Ferris, and associate Zeeshan Hussain, all of whom are based in London. Luxembourg law advice was provided by partner Stéphane Hadet and counsel Christophe Renaudin.

“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,” Jiří Tomola said.

Martin Matula, the General Counsel of CPIPG, stated that CPIPG takes pride in being at the forefront of sustainable financing and expressed gratitude towards Dentons for its support in ensuring a smooth transaction process.