π Tender Overview
Global law firm White & Case LLP has advised Spanish financial services group CaixaBank, S.A. on the successful negotiation of a sustainability-linked loan to ?EZ Group.
White & Case partner TomΓ‘Ε‘ JΓn?, who led the Firm's deal team, said: "?EZ's recent successful funding adds to White & Case's extensive expertise advising on ESG-linked margin structuring."
?EZ closed the first line of credit linked to ESG indicators worth CZK 7.5 billion in the summer of 2023 with UniCredit, followed by a credit line with the VΕ‘eobecnΓ‘ ΓΊv?rovΓ‘ banka (owned by Banca Intensa) worth CZK 3 billion. With the most recent line from CaixaBank, the aggregate volume of available ESG-linked loans amounts to approximately CZK 13 billion. As with the two previous credit agreements, if ?EZ meets its decarbonisation commitments in the coming years it will obtain a more favourable interest rate at draw-down, whereas if its ESG parameters deteriorate its interest rate will increase.
?EZ is one of the largest companies in the Czech Republic and a leading energy group operating in Western and Central Europe.
