White & Case advises ČEZ Group on landmark first-ever European Green Bond by Czech issuer with €750 million inaugural issuance under updated €8 billion EMTN programme

Global law firm White & Case LLP has advised ČEZ Group on a landmark transaction in the international capital markets: the issuance of €750 million 4.375% European Green Bonds due 2034 under its €8 billion EMTN programme.

The issuance marks the first-ever European Green Bond by a Czech issuer and one of the first of its kind in Central Europe. European Green Bonds are issued under the European Green Bond Regulation, which sets a rigorous standard for European Green Bond issuances, including full alignment of proceeds with the EU Taxonomy and mandatory external review.

The European Green Bonds are admitted to trading on the regulated market of the Luxembourg Stock Exchange and followed the annual update of ČEZ Group's €8 billion EMTN programme, on which White & Case also advised the company earlier this year. Barclays, Bank of China, Commerzbank, Deutsche Bank, Erste Group, HSBC, ICBC and ING acted as joint lead managers. Deutsche Bank also acted as sustainability structuring coordinator.

"As a leading European energy group, ČEZ Group's inaugural issuance of European Green Bonds underscores its commitment to advancing the energy transition while accessing flexible and competitive capital," said White & Case partner Petr Hudec, who led the Firm's deal team. "This transaction is a milestone not only for ČEZ Group but for the Czech and Central European capital markets more broadly, demonstrating that issuers in the region are at the forefront of adopting the EU's new sustainable finance framework. We are proud to have advised the company on this landmark issuance."

ČEZ Group is the largest electricity generation and electricity and gas distribution company in the Czech Republic and a leading energy group operating in Central Europe.

The White & Case team advising on the transaction was led by partner Petr Hudec and included local partner Jan Vacula and associate Josef Levy (all Prague).

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