On 19 March 2024, the Moscow Exchange began trading green bonds issued by EuroTrans PJSC, one of the largest independent fuel operators in Russia (TRASSA brand). EPAM lawyers, specialising in Banking & Finance and Capital Markets provided thorough assistance, from preparing necessary documents, liaising with the Bank of Russia, the National Settlement Depository, and the ACRA rating agency, to advising on the listing of green bonds.
This meticulous preparation secured the following for EuroTrans PJSC:
- The first successful registration of a bond programme, a securities prospectus, and a green bond issue by the Bank of Russia (previously, all green bonds were registered by the Moscow Exchange);
- ACRA, a leading Russian rating agency, confirmed the compliance of EuroTrans PJSC's bonds with the Green Bond Principles developed by the International Capital Market Association (ICMA), the Taxonomy of Green Projects in accordance with Russian Governmental Decree No. 1587 dated 21 September 2021 (the “National Standard”), and the project funded with the proceeds from the bond issue aligns with the National Standard.
The funded project aims to establish car-charging infrastructure at the issuer's petrol stations, specifically through the construction of 63 car-charging stations and the installation of wind power plants at all locations. The issuer’s calculations suggest that the project will significantly reduce GHG emissions: by 27,496 tonnes of СО2e per annum by 2025, and by 325,487 tonnes of СО2e per annum by 2030.
The EPAM legal team for this matter included Associates Gilyana Haraeva and Dmitry Kabanov from Banking & Finance and Capital Markets, and was overseen by Partner and Head of Practice Dmitriy Glazounov.
