Norton Rose Fulbright advises financial institutions on PLN 615 million financing granted to CARGOUNIT

Global law firm Norton Rose Fulbright advised a consortium of leading Polish and international banks on a new term and revolving facilities agreement amounting to a total of PLN 615 million (€ 133 million) with additional optional incremental facility of up to PLN 100 million (€ 21 million).

The syndicate included BNP Paribas Bank Polska S.A., PKO Bank Polski S.A., Siemens Bank GmbH, Bank Millennium S.A., ING Bank Śląski S.A., Bank Pekao S.A. and Bank Ochrony Środowiska S.A.

The funds will be used, inter alia, to finance the acquisition of environmentally friendly electric locomotives and modernisation of the companies shunters' fleet.

The Warsaw team negotiated complex financial documentation including intercreditor arrangements and advised on the hedging strategy related to the financing.

CARGOUNIT is a leading locomotive leasing business in CEE. Its clients are major industrial groups in Poland and leading rail freight operators in Europe.

The Warsaw team was led by senior associate Krzysztof Gorzelak and counsel Marta Kawecka and included associate Oskar Sula and associate Marcin Słota. The team worked under the supervision of partner Grzegorz Dyczkowski who heads the Warsaw office and the firm’s Warsaw banking and finance practice.