International law firm Clifford Chance advised Emitel S.A. on the financing of up to PLN 1.57 billion granted by a consortium of leading Polish and international banks in order to repay the existing facility as well as to fund the company’s operational activities, investments, and acquisition plans. The new financing includes a senior secured term loan, a capex facility, and a revolving credit facility.
The consortium of lenders included: Bank Handlowy w Warszawie S.A., PKO Bank Polski S.A., Bank Gospodarstwa Krajowego, PZU S.A., Bank Pekao S.A. (also acting as Facility Agent and Security Agent), DNB Bank ASA, BNP Paribas Bank Polska S.A., Credit Agricole Bank Polska S.A., Bank Ochrony Środowiska S.A., and Alior Bank S.A.
The Clifford Chance team advising on the transaction was led by Maksymilian Jarząbek (Senior Associate), supervised by Andrzej Stosio (Partner) and included: Artur Gładysz and Krzysztof Burda (Lawyers), who were responsible i.a. for the security documentation and orchestrating the utilisation process, as well as Bartosz Zieliński (Lawyer), who co-led the process in relation to intercreditor arrangements. Jared Grubb (Partner), Genevieve Wohlfeil and Giuseppe Chiaula (Associates) advised on English law aspects of the transaction.
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