CTP Secures €500 Million Sustainability-Linked Loan and Launches €500 Million Bond Tender Offer

by   CIJ News iDesk III
2024-06-27   18:19
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CTP has announced the successful signing of a €500 million unsecured syndicated sustainability-linked loan facility. The 5-year loan, with a fixed all-in cost of 4.7%, will support CTP in diversifying its funding sources.

The loan was coordinated by SMBC Bank EU AG and ING, with participation from BNP Paribas, VUB (Intesa Sanpaolo), Rabobank, Bank of China, Alpha Bank Group, and ICBC. The funds will be used for general corporate purposes, including financing developments and a concurrent tender offer.

CTP’s tender offer aims to repurchase short-dated bonds with a total nominal value of €500 million. This move is part of the Group’s proactive liquidity management strategy, designed to extend its average debt maturity profile and realize a capital gain of €21.3 million.

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