Norton Rose Fulbright advises Benefit Systems S.A. on PLN 205 million financing

Global law firm Norton Rose Fulbright advised Benefit Systems S.A. on PLN 205 million (US$ 48.5 million) long-term financing granted by the European Bank for Reconstruction and Development and Santander Bank Polska S.A. for debt refinancing and investment purposes. The financing may be additionally increased by up to PLN 35 million (US$ 8.3 million).

The financing will enable Benefit Systems to fund capital expenditures related to the group’s organic growth, development of the MultiLife platform, acquisitions, green investments, refinancing of existing debt in the form of bank loans in Poland and other general corporate purposes.

Bartosz Józefiak, member of the Management Board of Benefit Systems, said:

“ESG issues and the pursuit of sustainable development are part of the DNA of Benefit Systems Capital Group. Our business model incorporates a social mission based on promoting physical activity and a healthy lifestyle. It is encouraging that financial institutions want to support such an approach to business.”

The Warsaw team was led by counsel Marta Kawecka and included associate Karolina Majcher. The team worked under the supervision of partner Grzegorz Dyczkowski, who heads the Warsaw office and the firm’s Warsaw banking and finance practice. 

Marta Kawecka commented:

“We are delighted to have been able to assist Benefit Systems with this financing. It fits very well in sustainable finance – one of the foundational areas of our banking and finance practice – and we are very proud that one of the most innovative group in the industry has entrusted us with this transaction.”

Benefit Systems Capital Group is a provider of solutions in the area of non-wage employee benefits with the flagship product MultiSport and one of the biggest fitness club operator in Poland. The company has been listed on the Main Floor of the Warsaw Stock Exchange since April 2011.