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Norton Rose Fulbright Advises Bank Millennium on Refinancing of PAD RES Solar Portfolio in Poland

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Norton Rose Fulbright has advised Bank Millennium on the refinancing of 13 operational photovoltaic projects developed by PAD RES Group, a joint venture between Griffin Capital Partners and Kajima Europe. DLA Piper reportedly advised PAD RES.

According to Norton Rose, the loan was granted to eight special-purpose vehicles belonging to PAD RES Group and will be used to refinance incurred capital expenditures and support ongoing operations. The transaction involved the refinancing of construction-phase shareholder indebtedness governed under a Dutch-law notes purchase agreement. 

The 60.45 megawatt-peak portfolio spans seven voivodeships in Poland, Greater Poland, West Pomeranian, Kuyavian-Pomeranian, Lubusz, Pomeranian, Lesser Poland, and Warmian-Masurian, with a combined annual production capacity of approximately 64 gigawatt-hours. All projects are fully operational. 

The Norton Rose Fulbright team included Partner Tomasz Rogalski, Senior Associate Igor Kondratowicz-Laderski, Associates Karolina Lepakiewicz, Mateusz Czuba, and Martyna Orłowska, and Lawyers Antoni Krzyzanowski and Mikolaj Rydzewski.

DLA Piper at a Glance

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, helping clients with their legal needs around the world. We strive to be the leading global full-service law firm by delivering quality and value to our clients. With practical and innovative legal solutions, we help our clients succeed.

In Central and Eastern Europe (CEE), DLA Piper continues to grow and now employs more than 320 lawyers, including 46 partners across its six offices in Austria, the Czech Republic, Hungary, Poland, Romania and Slovakia. With our global set-up and established relationship firms across all other CEE jurisdictions, we are among the largest and most experienced international law firms in the region. Through our experience gained advising on a variety of high-profile projects and the long-term relationships we have established with our clients, we have built a reputation as a leading business law firm across CEE.

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