White & Case advises Accolade on increase of its programme to CZK 13 billion and CZK 2.5. billion green bond issuance

White & Case LLP has advised the Accolade Group (Accolade) on its CZK 2.5 billion issuance of 7.000% green notes due 2030.

The notes were issued by Accolade Finco Czech 2, s.r.o. and guaranteed by Accolade Holding, a.s. The proceeds will be used to finance or refinance Accolade’s projects meeting the criteria for the “Green Buildings” category. The notes attracted strong investor demand, which led to an increase in the total nominal value of the issuance.

“This transaction was a brilliant illustration of what a well-structured programme can do, enabling a proven issuer like Accolade to return to the market fast, whenever conditions are just right,” said White & Case partner Petr Hudec, who led the Firm’s deal team. “Investor appetite for Accolade’s green bonds remains as strong as ever, and we are delighted to play a part in Accolade’s success story.”

This transaction follows Accolade’s four prior successful bond issuances, all advised on by White & Case. As part of the transaction White & Case also assisted with the update of the programme and with the increase in the programme limit from CZK 6 billion to the current CZK 13 billion. The notes are listed on the regulated market of the Prague Stock Exchange. Česká spořitelna, Československá obchodní banka and Komerční banka acted as arrangers and joint lead managers, with UniCredit Bank Czech Republic and Slovakia as joint lead manager, on the latest issuance.

Accolade Holding, a.s. is a leading investment group which focuses on development, management and leasing of industrial real estate across Europe. It also owns approximately 22 percent of the investment shares of Accolade Industrial Fund, which is open to qualified investors. Additionally, the group operates Brno Tuřany International Airport, the Czech Republic’s second largest airport by number of passengers.

The White & Case team in Prague which advised on the transaction was led by partner Petr Hudec, and included associates David Mikyska and Josef Levy.

Press contact
For more information please speak to your local media contact.