Norton Rose Fulbright advises financial institutions on financing granted to Cersanit Group

Global law firm Norton Rose Fulbright advised one of the largest syndicates formed this year by domestic financial institutions on a complex transaction involving financing up to PLN 1,5bn (€ 325m) for Polish, Russian, Romanian, Ukrainian and German companies from Cersanit Group.

The syndicate included Bank Polska Kasa Opieki S.A. as the agent, the security agent and original lender and mBank S.A., ING Bank Śląski S.A., Santander Bank Polska S.A., BNP Paribas Bank Polska S.A., Powszechna Kasa Oszczędności Bank Polski S.A. as original lenders.

The Warsaw team drafted and negotiated complex financial documentation and coordinated cooperation with Norton Rose Fulbright’s Frankfurt office and other law firms from Romania, Russia and Ukraine.

Cersanit S.A. is a European leader in production and distribution of goods used in finishing and fitting out bathrooms, such as ceramic tiles, sanitary ceramics, bathroom furniture, bathtubs, wall mounting fixing frames and fittings.

Cersanit Group operates in Poland and across Europe, the Middle East, Central Asia and North Africa.

The Warsaw team was led by counsel Jacek Smardzewski and included associate Karolina Majcher and paralegal Michał Rutkowski. The team worked under the supervision of Grzegorz Dyczkowski who heads the Warsaw office and the firm’s Warsaw banking and finance practice.

Partner Bernhard Fiedler and associate Julia Tschickardt provided German law advice.

Ukrainian law advice was provided to financial institutions by Asters and Romanian law advice - Ionescu si Sava, SCA.

Grupa Cersanit was advised by Clifford Chance (Warsaw and Moscow offices).