Dentons has advised the CPI Property Group on a EUR 1.852 billion forward start facility to refinance the two-year bridge loans for the acquisitions of Immofinanz and S IMMO, extending their maturity until 2025. Reportedly, Linklaters advised the lenders.
According to Dentons, the new facility was provided by a syndicate of international banks, including Banco Santander as a global coordinator and underwriter, as well as Raiffeisen Bank International, Societe Generale, Komercni Banka, and Erste Group Bank.
CPI Property Group owns income-generating real estate in Europe, focusing primarily on the Czech Republic, Berlin, and the CEE region.
Last year, in 2021, Dentons advised the CPI Property Group on the EUR 2.5 billion Immofinanz takeover financing (as reported by CEE Legal Matters on December 20, 2021) and, earlier this year, on the EUR 1.25 billion S IMMO takeover financing (as reported by CEE Legal Matters on May 2, 2022).
Dentons’ team included Prague-based Partner Jiri Tomola, Counsel Martin Mandulak, and Associate Ondrej Vales, with further team members in Luxembourg.