Our debt capital markets lawyers in Warsaw advise global financial institutions and large Polish companies on local and European debt markets. Working across a range of key industry sectors, we can assist with senior and syndicated lending or bonds and asset backed securities, in both the primary and secondary markets.
As part of our global debt capital markets group, we work with our team of lawyers around the world to provide integrated advice to issuers, dealers and advisers on all forms of debt finance transactions. We have strong experience acting for issuers, underwriters or initial purchasers in offerings of debt securities using an offering memorandum, prospectus or any similar offering document in infrastructure, telecommunication and energy projects.
Areas of work
- Bond issues
- Commodities and derivatives
- High yield debt
- We are advising a Polish branch of a leading European bank on standard master documentation for treasury and derivative transactions. (ongoing)
- We advised Bank Polska Kasa Opieki S.A. (UniCredit) on the issuance, by PKP Intercity S.A., of bonds to finance and refinance payments of VAT. The maximum aggregate value of the issuance programme was PLN 1.2bn (approximately €3m) and the aggregate value of all bonds issued under the programme and outstanding on any given day was not to exceed PLN 350m (approximately €88m). Further advice involved financing the replacement and modernisation of passenger trains and locomotives to be used on long distance urban passenger services in Poland, with the maximum aggregate value of two series of bonds issued in the amount of PLN 322m (approximately €81m). (November, 2015)
- We acted for J.P. Morgan and Bank of America Merrill Lynch, as global coordinators on (i) the €870m (approximately PLN 130m) dual-tranche high yield bond offering of P4 sp. z o.o. (Polish mobile network operator MNO operating under the ”PLAY” brand) for refinancing PLAY’s existing funding arrangements and distribution to PLAY’s shareholders (January, 2014) and (ii) the €415m senior PIK toggle notes offering.
- We acted for TAURON Sweden Energy AB (publ) as an issuer and TAURON Polska Energia S.A. as a guarantor on the issuance of unsecured German registered notes Namensschuldverschreibung with a face value of €168m and 15 year tenor. The issuance was arranged by J.P. Morgan Securities plc and subscribed for by mainly German financial institutions.