Allen & Overy's Polish office has advised on the financing of upgrades to power units at Patnow Power Plant I and the refinancing of Zespol Elektrowni Patnow-Adamow-Konin's existing indebtedness.
Allen & Overy advised mBank, PKO Bank Polski, Bank Pekao, Bank Millennium, and Bank Gospodarstwa Krajowego on the financing of upgrades to power units 1 through 4 at Patnow Power Plant I and the refinancing of Zespol Elektrowni Patnow-Adamow-Konin's existing indebtedness incurred for the construction of the flue gas desulphurisation plant at the Patnow Power Plant it owns. The amount of facilities granted was nearly PLN 1200 million.
Tomasz Kawczynski, Partner in Allen & Overy's Banking department led the team. Kawczynski said of the deal that: "This financing supports one of the few projects in the conventional power sector in recent years. At the same time, it shows that the Polish banking sector is ready to support important investments in the Polish energy sector. We hope this project will pave the way for further projects in this strategic area. We are proud to have once again advised ZE PAK in such a prestigious transaction."
Karczynski was supported by Counsel Kamil Janielewicz, Senior Associate Agnieszka Lipska, and Associates Justyna Stelmach and Katarzyna Gerlach.