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Norton Rose, Ionescu Sava, and Integrites Advise on EBRD EUR 42 Million Financing for Cersanit

Norton Rose, Ionescu Sava, and Integrites Advise on EBRD EUR 42 Million Financing for Cersanit

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Norton Rose Fulbright, Ionescu Sava, and Integrites have advised the EBRD on its EUR 42 million senior secured loan for Cersanit to improve its production facilities in Poland and Ukraine.

"This investment is part of the EBRD’s widespread support to Ukraine struggling in the face of the Russian invasion," Norton Rose Fulbright reported. "The EBRD funding will enable Cersanit to scale up its tile and sanitaryware production both in Poland and Ukraine, including the completion of a project for manufacturing large-format ceramic tiles in Ukraine, reconstruction of an acrylics products factory in Poland, and completion of energy efficiency upgrades as well as other modernization investments in Poland."

Cersanit is a Poland-based ceramic tile and bathroom equipment producer and distributor "with a large operation in Ukraine that is expected to play an important role in the reconstruction of infrastructure damaged by war," according to the EBRD. 

"Despite a very challenging environment caused by the outbreak of war and increased energy prices, Cersanit has proved to be resilient and adaptive to the new economic reality," Cersanit owner Michal Solowow commented. "We remain committed to expanding our activities in Ukraine through continued production of ceramic tiles and sanitaryware. I want to thank all of Cersanit’s staff for their commitment, dedication, and empathy. I also firmly believe that other European and global businesses will follow in our footsteps and consider investing in Ukraine as well." 

The Norton Rose team was led by Counsel Marta Kawecka and included Counsel Joanna Braciszewska-Szarapa, Senior Associate Igor Kondratowicz, Associate Michal Rutkowski, and Paralegal Wiktoria Jadczak, as well as lawyers from the firm's London and Frankfurt offices.

The Ionescu Sava team was led by Senior Associate Diana Mardare.

Editor's Note: After this article was published, Integrites announced the composition of its team working on the matter: Partner Igor Krasovskiy, Counsel Olena Savchuk, and Senior Associate Yuriy Korchev.

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