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August 18, 2022

Dentons assisted NEPI Rockcastle on green and ESG-linked financing transactions for downstream investments in its real estate portfolio and for enhancing its liquidity position

Dentons, the world’s largest law firm, assisted NEPI Rockcastle Group, the premier owner and operator of shopping centres in Central and Eastern Europe, in connection with two financial arrangements that are fitting in with the Group’s Green Finance Framework and sustainability strategy.

The first financing is a new green loan made available by the International Finance Corporation, as part of their COVID-19 support programme, and will be further allocated to the Group’s green assets in Romania. The second financing is an extension of an existing revolving facility made available by a syndicate of lenders led by BRD – Groupe Société Générale S.A. and Garanti Bank S.A. which introduced an ESG-link feature. These financings together with the other revolving credit facilities already in place are aimed at strengthening the Group’s liquidity.

The first ESG-linked revolving facility was concluded by NEPI Rockcastle in December 2019. Therefore, these latest financing transactions are part of the green finance strategy embraced by NEPI Rockcastle, and follow on the heels of two other revolving credit facilities, both of which are ESG linked and extended during the last six months. In total, this brings the green and ESG-linked loans and revolving facilities portfolio of NEPI Rockcastle to approx. EUR 643,500,000.

The Dentons Bucharest banking team, led by partner and head of banking Simona Marin (photo) with assistance from associate Sandra Constantin, advised on all transactions from term sheet stage to closing, including in terms of alignment of the agreements with the NEPI Rockcastle group strategy. For Dutch law matters, the team was assisted by the Dentons Amsterdam office, led by partner Marcel Janssen and associates Shivaughn Tets and Daan Overwater.


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