- EBRD invests €45 million in inaugural green mortgage covered bond issued by UCBCS
- Issue facilitates capital market development as the first green covered bond placed by a Czech issuer
- Investment to support the EBRD’s green agenda in the Czech Republic and the Slovak Republic
The European Bank for Reconstruction and Development (EBRD) is investing €45 million to support the first green covered bond issued by UniCredit Bank Czech Republic and Slovakia a.s. (UCBCS). The bond will have a five-year maturity and be listed on the Luxembourg Stock Exchange.
This is the EBRD’s second transaction in the Czech Republic’s financial sector since re-engaging in the country in 2021.
The EBRD’s investment encourages high standards in green lending to the real sector in the Czech Republic and the Slovak Republic, supporting the Bank’s green agenda in both countries.
The Bank will contribute to the resilience of a systemic financial institution in the Czech Republic and will enhance its capacity to support green projects in the Czech Republic and the Slovak Republic.
Melis Ekmen Tabojer, EBRD Director, EU Banks and Structured Finance, said: “This is a milestone transaction for both UniCredit Bank Czech Republic and Slovakia, and the EBRD. The Bank is proud to contribute to the first green covered bond issued by a Czech bank, facilitating green lending in the Czech Republic and the Slovak Republic. With this investment, the EBRD helps UCBCS to realise its strong green ambition and supports capital market development at a time of increased instability and volatility, particularly for central and eastern European issuers.”
The EBRD has to date invested around €1.38 billion through 119 projects in the Czech Republic.