CTP Group changes its finance department structure following a successful green bond issue

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. “Following on from the successful bond issue, our senior management team has changed 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,” said Richard Wilkinson, CFO at CTP Group.

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. “In the near term, we expect most of our external debt financing to be based on bonds,“ explains Raus.

CTP B.V.’s debut green bond for €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 €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.