Dentons Leads €380M Refinancing Deal for Eurovea 1 & 2 in Slovakia
Dentons, a leading law firm, has advised a consortium of banks, including PNC Bank and US Bank, on a significant refinancing deal for the Eurovea 1 and Eurovea 2 real estate projects in Slovakia. The transaction, one of the largest in the country's real estate sector, involves a syndicated loan of up to €380 million. While specific details about participating banks and earlier financing agreements remain private, the deal is set to transform the financial landscape of these projects.
The Eurovea City project, spearheaded by JTRE, a leading real estate developer in Slovakia and Central Europe, has seen its second phase, Eurovea 2, completed in 2023. This expansion has enhanced the riverfront promenade and green spaces, further transforming the former industrial area into a vibrant urban quarter in Bratislava.
Dentons' team, led by Petra Štrbová and Peter Panek, played a crucial role in the refinancing deal. They guided a club of banks, comprising Tatra banka (acting as agent and arranger), Komerční banka Slovakia, Slovenská sporiteľňa, and Všeobecná úverová banka, through the complex transaction. The loan aims to refinance existing financing for the projects, which are part of JTRE's portfolio.
The refinancing deal, led by Dentons and involving a consortium of major Slovak banks, signals a vote of confidence in JTRE's Eurovea City project. The €380 million loan, one of the largest in Slovakia's real estate sector, will facilitate the continued development and growth of this significant urban quarter in Bratislava.
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