Dentons Advises NET4GAS on CZK 4 Billion Refinancing Deal.
Leading global law firm Dentons has advised NET4GAS, the Czech Republic’s sole gas transmission operator, on securing a CZK 4 billion refinancing facility aimed at strengthening its financial position and supporting the modernization of the nation’s energy infrastructure.
Announced on April 11, 2025, the refinancing marks an important milestone for NET4GAS as it works to navigate shifting market dynamics and increasing regulatory demands across Europe’s energy sector.
The fresh financing was arranged by a syndicate of leading Czech banks, including Komerční banka, Česká spořitelna, UniCredit Bank Czech Republic and Slovakia, and Všeobecná úverová banka. Legal advice to the lenders was provided by CMS.
The transaction follows Fitch Ratings’ upgrade of NET4GAS’s Issuer Default Rating to ‘BBB-’ in December 2024, signaling growing investor confidence in the company’s financial strength and long-term strategy.
With the refinancing facility now secured, NET4GAS has moved proactively to manage upcoming debt maturities while reinforcing its operational resilience.
In an increasingly competitive and regulated energy environment, the deal also highlights Dentons’ continuing leadership in high-profile financings across Central Europe. The firm’s cross-disciplinary team worked closely with NET4GAS throughout the negotiation process to deliver favorable terms and a streamlined execution.
As NET4GAS looks to the future, the refinancing ensures it remains well-positioned to meet the Czech Republic’s evolving energy needs and invest in the transition to a more sustainable energy landscape.
Dentons’ advisory team was led by partners Jiří Tomola and Ondřej Bartoň, with support from counsel Rainer Frank, senior associates Martin Fiala and Jan Kořistka, and junior associates Miroslav Sýkora and Jan Juráš. Drawing on deep expertise in banking, finance, and energy law, the team guided NET4GAS through the complex refinancing process to a successful close.
NET4GAS, s.r.o. is the exclusive natural gas transmission system operator in the Czech Republic. Headquartered in Prague, the company operates over 3,800 kilometers of high-pressure pipelines and transports more than 45 billion cubic meters of gas annually.
Established in 2005 following the unbundling of RWE Transgas and acquired in 2013 by a consortium of Allianz Capital Partners and Borealis Infrastructure, NET4GAS plays a key role in connecting European energy markets.
Its infrastructure, including the major Gazela pipeline, serves both domestic distribution and international transit. With approximately 500 employees, NET4GAS is committed to operational excellence, energy security, and supporting Europe’s transition to a sustainable energy future.
Dentons, founded in 2013, is the world’s largest law firm, operating in over 80 countries. With its unique polycentric structure, Dentons offers clients access to top-tier legal talent and deep local insight across key global markets. The firm is recognized for its commitment to innovation, client service, and helping organizations navigate complex legal and business challenges in a rapidly evolving world.
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