LECAP served as legal counsel for the first-ever green bond issue by the Russian Environmental Operator (REO). The issue amounted to 17.2 billion rubles. The proceeds will be used to finance the construction of the Novosyolki waste treatment facility in St. Petersburg.
LECAP is advising REO on the overall bond program under which the green bond issue was placed, and LCPIS is representing bondholders in all issues of the program. A key feature of REO's bond program is that, with LECAP's participation, a mechanism for the repayment of non-structured bonds with property was structured for the first time in Russian practice.
With our assistance, REO has already placed seven bond issues under this program. Virtually all bonds in the program are aimed at financing waste management projects and are environmentally friendly.
REO's current bond issue is the first to be formally verified as green. Compliance with the principles of “green” bonds was confirmed by the Expert RA agency.
LECAP is advising REO on the overall bond program under which the green bond issue was placed, and LCPIS is representing bondholders in all issues of the program. A key feature of REO's bond program is that, with LECAP's participation, a mechanism for the repayment of non-structured bonds with property was structured for the first time in Russian practice.
With our assistance, REO has already placed seven bond issues under this program. Virtually all bonds in the program are aimed at financing waste management projects and are environmentally friendly.
REO's current bond issue is the first to be formally verified as green. Compliance with the principles of “green” bonds was confirmed by the Expert RA agency.