Clifford Chance advised Arctic Paper on a refinancing transaction

Clifford Chance advised Arctic Paper S.A., one of the leading manufacturers of high-quality graphical fine paper in Europe and a longstanding client of our firm, on a term and revolving facilities agreement concluded with a consortium of banks composed of: Santander Bank Polska S.A., BNP Paribas Bank Polska S.A. and Bank Polska Kasa Opieki S.A., under which the lenders agreed to grant the company a ca. PLN 300 million equivalent multicurrency refinancing package, comprised of term and revolving facilities. The financing will, subject to satisfaction of customary conditions precedent, be made available for general corporate and working capital purposes and in order to refinance the group’s existing bank/bond debt – we advised Arctic Paper S.A. on the original bank and bond debt back in 2016.

The Clifford Chance team advising on the transaction included Andrzej Stosio (Partner co-heading the Warsaw Banking and Finance Department), Kacper Bardan (Senior Associate), Anna Miernik (Senior Associate), Natalia Karasiewicz (Associate) and Artur Gładysz (Associate).