Polish Banking & Finance specialist Mariusz Hyla has left Hogan Lovells in Poland to join DLA Piper's Warsaw office as Partner and Head of the Finance & Projects department.
Clifford Chance is reporting that it was "heavily represented" on the working group of the Polish Bank Association, which, on November 16, 2016, after almost four years of work, launched an LMA (Loan Market Association)-based recommended form Polish law governed facilities agreement in a Polish language version.
Clifford Chance has advised Wydawnictwa Szkolne i Pedagogiczne S.A. on syndicated refinancing of up to PLN 410 million organized by ING Bank Slaski S.A., Bank BGZ BNP Paribas S.A., Bank Handlowy w Warszawie S.A., Bank Zachodni WBK S.A., and Raiffeisen Polbank S.A. Allen & Overy advised the banks on the transaction, which involved the repayment of their bilateral credit facilities and the redemption of bonds listed in the ATS, as well as ensuring acquisition and revolving financing for the company.
Domanski Zakrzewski Palinka has provided Polish law advice to the Swiss company SSE Holding Ltd. in its acquisition of civil enterprises belonging to Orica Limited located in Germany, Poland, Czech Republic, and Slovakia. DZP reports that it cooperated with law firms in Switzerland, Germany, the Czech Republic, and Slovakia.
Domanski Zakrzewski Palinka is advising Toyota on its announced plan to carry out two new investments in Poland: producing gear boxes for hybrid vehicles in a plant in Walbrzych and producing a new generation of petrol engines in a plant at Jelcz-Laskowice. The total investment value is approximately PLN 650 million.
Clifford Chance's Warsaw office has advised the IK Investments fund on the preliminary agreement for the sale of the Axtone Group to the ITT Corporation. The value of the transaction was more than EUR 100 million. Willkie Farr & Gallagher LLP in Frankfurt, and Soltysinski Kawecki Szlezak (SK&S) in Warsaw advised ITT on the deal.
Clifford Chance has advised Arctic Paper S.A. and its subsidiaries in Poland and Sweden on the comprehensive refinancing of their indebtedness. The group's existing indebtedness to BZWBK, Pekao SA, and mBank (the "Original Lenders") in Poland was refinanced with the aid of a combination of credit facilities and bonds. The facilities were granted by a consortium consisting of Bank Zachodni WBK S.A., Bank BGZ BNP Paribas S.A., and the EBRD -- all advised by Linklaters, as were the Original Lenders -- while the bond issue was organized by Haitong Bank, which was advised by Dentons.
The Warsaw office of Greenberg Traurig has advised Venture Fundusz Inwestycyjny Zamkniety, managed by TFI Trigon S.A., in connection with the acquisition of a non-controlling stake in U.S.-based Seed Labs Inc., which is involved in the development of an end-to-end smart lighting platform using new transmission protocols.
White & Case has advised Societe Generale as global coordinator, lead co-arranger, and dealer, Deutsche Bank, J.P. Morgan, and PKO Bank Polski as co-arrangers and dealers, and Landesbank Baden-Wurttemberg as dealer, on the establishment by PKO Bank Hipoteczny S.A., a subsidiary of PKO Bank Polski, of a EUR 4 billion international covered bond issuance program, and the issue of EUR 500 million covered bonds thereunder.