Prague, 18 November 2020
European commercial real estate developer CTP has changed the structure of its finance department. The company is responding to the success of CTP B.V.’s debut green bonds issue and the shift towards bonds as a means of financing of the CTP Group. A new position of CTP Group Treasurer has therefore been created; the position has been taken up by Zdeněk Raus.
On 1 October 2020, CTP Group had a successful debut green bond issue.
Richard Wilkinson, CFO at CTP Group, said:
“Following on from the successful bond issue, our senior management team has undergone changes so that the finance department structure at the Group features a clearer division of responsibilities towards investors in terms of bond financing. Therefore, the Group expects to be able to make better use of such financing opportunities.”
Zdeněk Raus, who has held the position of CFO for CTP Czech Republic and Slovakia and now becomes the new CTP Group Treasurer, will be responsible for managing liquidity and interest rate and foreign exchange risks. He will also be responsible for payments and the structuring and management of intercompany loans, which are gradually becoming a major source of financing.
Zdeněk Raus, explains:
“In the near term, we expect most of our external debt financing to be based on bonds.”
CTP B.V.’s debut green bond for EUR 650 million became the largest debut issue of a commercial real estate developer in the CEE region. The bonds attracted high interest among investors. At the peak of demand, investor orders exceeded more than EUR 2 billion. The Issuer intends to apply the proceeds from the offer for refinancing bank loans and further company expansion in line with its Green Bond Framework.
CTP Group is a commercial real estate owner, developer and manager providing complete services in the logistics real estate sector. The firm specialises in the construction, ownership, and management of custo-mer-oriented high-tech business/logistics parks for leading international and domestic companies that are strategically investing in new or expanded projects. CTP Group is the largest full-service owner-developer of prime industrial and logistics property in the CEE. The Group’s core portfolio consists of 6 million square metres of Class A real estate in 100 strategic locations in six CEE countries.