CTP Bond

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IFC’s investment is up to EUR 150 million in aggregate in 7 to 10-year green Eurobonds to be issued by CTP N.V. (“CTP” or the “company”) under its EUR4 billion Euro Medium Term Note program. The proceeds of IFC’s investment in the bond/s will be used exclusively for green industrial and logistics developments in Romania and Serbia (the “project”). Established in 1998 in the Czech Republic, CTP mainly develops and leases industrial and logistics assets, with some small exposure to office and hotel assets in the Czech Republic (https://www.ctp.eu/company/about-us/). CTP is a full-service commercial real estate developer which builds, manages and delivers custom-built, Class A business parks (industrial and warehouse spaces for logistics and light manufacturing) throughout Central and Eastern Europe (CEE). CTP has developed five types of standard buildings ranging in size and functionality to support diverse business activities, including manufacturing, supply-chain and distribution centers, advanced R&D, and back-office operations. As of June 30, 2020, CTP operates over 70 industrial parks in key logistics hubs in CEE spread across 6 countries (Czech Republic – 63% of the entire portfolio, Romania – 20%, Hungary – 8%, Slovakia -7%, Poland – 1%, and Serbia -1%) and serves over 500 international tenants, including blue-chip corporates. CTP’s tenants are mostly from automotive, IT, wholesale & distribution, logistic, e-commerce, retail, manufacturing sectors.  As of January 2021, effectively 100% of CTP’s logistics and industrial portfolio was BREEAM-certified for sustainability with “Very Good” or “Excellent” ratings. Additionally, CTP targets to achieve carbon neutrality in operations by 2023.  CTP also owns and operates solar farms in the Czech Republic with an installed capacity of 6 MW. Since 2020, all CTP’s new buildings are being designed ‘solar ready’, meaning either that the roofs will be built to allow the creation of a solar farm on each building by incorporating the necessary hook-up technology, or it will be built with solar panels already installed.. At the end of 2020, CTP had 6.3 million square meter (MSM) of lettable area under management and targets to reach of 10 MSM by 2023. In Romania, CTP currently has 15 sites located in Bucharest, Cluj-Napoca, Timisoara, and Pitesti. In Serbia, CTP operates 4 parks in 3 locations with a total area of 180,00 square meter.