Frankfurt/Brussels—Global law firm Dentons has advised the European Bank for Reconstruction and Development (EBRD) on its €100 million investment in a tranche of Etex Group’s ESG-linked Schuldschein. With a total volume of €800 million, the Schuldschein transaction is the largest placement of its kind ever conducted by a non-German company.

EBRD’s €100 million participation in the ESG-linked Schuldschein placement will be used in particular to support the company’s direct green investments in Poland, Romania and Lithuania as well as to finance the acquisition of URSA, a European market leader in thermal insulation materials.

Etex Group is a leading group of global building materials manufacturing and trading companies headquartered in Brussels. The group reported total sales of nearly €3 billion in 2021 and has over 140 locations in 45 countries.

The EBRD was established in 1991 to support the development of free-market economies in Central and Eastern Europe. It serves the interests of the more than 38 economies in which it invests, as well as its shareholders, 69 countries, the European Union and the European Investment Bank.

Partner Oliver Dreher, Head of the Debt Capital Markets (DCM) practice group in Germany, led the Dentons team advising the client, assisted by associate Nadja Reiß in Frankfurt, and partner Nora Wouters and junior associate Domien Kriger from the Banking and Finance team in Brussels.

Advisors to EBRD

Frankfurt: Oliver Dreher (Partner, lead), Nadja Reiß (Associate, both Capital Markets)

Brussels: Nora Wouters (Partner), Domien Kriger (Junior Associate, both Banking and Finance)

About Dentons

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