"Dentons Advises Globe Trade Centre on €455 Million Senior Secured Notes Issuance and Tender Offer"

"Dentons has advised Globe Trade Centre (GTC) on the issuance of EUR 455 million in senior secured notes due 2030 and a tender offer for EUR 500 million in green notes due 2026. The new notes, issued by GTC Finance DAC, will help fund the tender offer and facilitate the repayment of existing notes. The transaction was well-received, attracting a diverse group of international investors, including Schroders as an anchor investor. GTC's CEO highlighted the strong investor response as a testament to the company's strategy and market position. The Dentons team involved in the transaction included lawyers from various offices across Europe."

In a recent transaction, Dentons advised Globe Trade Centre (GTC) on the issuance of EUR 455 million 6.50% senior secured notes due 2030, while Linklaters provided counsel to sole bookrunner J.P. Morgan. The transaction involved the issuance of new notes by GTC Finance DAC, a special purpose vehicle outside the GTC Group, with proceeds placed in escrow to fund a concurrent tender offer for EUR 500 million 2.25% guaranteed green notes due 2026, issued by GTC's subsidiary, GTC Aurora Luxembourg. The new notes will ultimately be assumed by GTC Aurora, guaranteed by GTC and certain subsidiaries, and secured by mortgages over prime commercial assets in Poland, Hungary, and Romania, along with a share pledge over a soon-to-be-formed Luxembourg holding entity for a key asset. The transaction was met with strong demand, resulting in an oversubscribed order book, and attracted a diverse mix of international institutional investors and major Polish funds. The Dentons team included Warsaw-based Partner Jakub Celinski, Senior Associate Paulina Galewska, Associate Rafal Baranowski, Budapest-based Partners Istvan Reczicza and Edina Schweizer, Junior Associate Adam Brecko, and Bucharest-based Partner Loredana Chitu and Counsel Stefi Ionescu, along with additional lawyers from London, Dublin, Frankfurt, and Luxembourg.

"Dentons Advises Globe Trade Centre on €455 Million Senior Secured Notes Issuance and Tender Offer"

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