CTP UCL

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 IFC’s investment is a long-term green loan with sustainability linked features of up to EUR 500 million to CTP N.V. (CTP or the Company), an existing IFC client. The financing package is comprised of up to EUR 150 million A Loan, for IFC’s own account, and up to EUR 350 million mobilization from third party lenders (together, the IFC Loan). The IFC Loan will be used to fund the development of energy-efficient, green-certified, industrial and logistics parks in Bulgaria and Poland (the Project). CTP is the developer and owner of logistics and industrial real estate in ten countries of Continental Europe (i.e. Czech Republic, Romania, Hungary, Germany, Austria, Slovakia, Netherland, Serbia, Poland and Bulgaria). CTP has developed a full-service concept, which provides a combination of space and a full-range of property services (e.g.,  design, construction, management) to mostly international and blue-chip companies whose operations range from e-commerce through logistics, manufacturing and IT to the automotive industry. CTP’s shares are listed on the Euronext stock exchange in Amsterdam. Owned by CTP forest removes from atmosphere more than corporate CO2 emissions are and currently about 72% of the portfolio is BREEAM-certified with the target to have all properties green-certified. Between June 2021 and July 2022, IFC invested €150 million in green bonds issued by CTP (the Bond Project). The proceeds of the Bond Projects were used by CTP for the development of green-certified industrial and logistics properties in Romania and Serbia (project #44887, ESRS disclosure link https://disclosures.ifc.org/project-detail/ESRS/44887/ctp-bond).  This Project will support CTP’s expansion strategy in Bulgaria and Poland for the next 3-5 years. CTP’s strategy for these countries is to focus of new constructions as well as on retrofitting the existing buildings. CTP’s current portfolio in Poland represents 1% of CTP’s total portfolio and includes 13 standing properties with a gross lettable area (GLA) of about 101,000 sq. m and 11 buildings have been already planned for development (total GLA 354,000 sq.m) mostly in Warsaw, Zabrze, Opole and Gdansk cities. Bulgaria’s portfolio (2% of the total CTP’s portfolio) consists of 7 standing properties with the total GLA of 144,00 sq.m in Sofia, Plovdiv and so far, 11 buildings are planned for construction in Sofia (GLA 260,000 sq.m). CTP strategically secures land plots adjacent to the existing parks for further expansion.  CTP builds all new properties with “solar ready” roofs and targets to install across its portfolio around 400 MWp of photovoltaic (PV) panels in total by 2026.  In addition, CTP considers opportunities to develop and use other sources of renewable energy for their properties. IFC funds will not be used for financing of CTP’s solar PV program and development of renewable energy facilities and these investments are outside of the Project’s scope.