White & Case advises Energo-Pro on €300 million senior guaranteed note issuance

Global law firm White & Case LLP has advised ENERGO-PRO a.s. (Energo-Pro) on its €300 million 6.45% senior guaranteed notes due 2031, issued through a private placement and offered under Regulation S.

The proceeds from the issuance will be used to repay Energo-Pro's existing US$300 million 11.00% guaranteed notes due 2028, on which White & Case also advised in 2023, as well as for general corporate purposes. The notes are admitted to trading on the Vienna MTF, a multilateral trading facility operated by the Vienna Stock Exchange. J.P. Morgan acted as sole initial purchaser for the transaction.

"White & Case were a great help in getting this fast-paced transaction over the line. They used their capital markets expertise to streamline the process, saving time and money, and their knowledge of Energo-Pro to focus only on legal issues material to us. Capacity, hard work and good humour were present, as usual" commented Christian Blatchford, Energo-Pro's Group General Counsel.

White & Case Partner Petr Hudec, who led the Firm's deal team, commented: "This private placement marks another significant financing milestone for Energo-Pro, following the successful completion of its €750 million guaranteed notes issuance under Regulation S and Rule 144A in June this year. I am proud of our team and grateful that we had the opportunity to support Energo-Pro on this unique transaction executed within an extremely tight timeframe."

Energo-Pro is a leading hydropower generator, distributor and supplier of electricity in Central and Eastern Europe, the Black Sea region and Latin America. It operates a portfolio of more than 50 hydropower plants across Bulgaria, Georgia, Türkiye, Spain and Brazil, and owns and operates electricity distribution networks in Bulgaria and Georgia. The company is also investing in the development of new hydropower projects in Colombia.

The White & Case team advising on the transaction was led by partner Petr Hudec, working closely with local partner Jan Vacula and associate Anna Bezděková (all Prague). The team was further strengthened by London-based partners Melissa Butler and Stuart Matty (both London).

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