Gide Warsaw has advised KGHM Polska Miedz S.A. on 450 million financing granted the Bank Gospodarstwa Krajowego. White & Case advised BGK on the deal.
The agreement between KGHM Polska Miedz and Bank Gospodarstwa Krajowego was signed on February 27, 2019. According to Gide, the financing period will be seven years with the first five years in the form of a revolving credit line later to be transformed into a non-revolving loan, repayable in four equal semi-annual installments. The loan will be used for general corporate purposes, such as current operations and investments.
KGHM Polska Miedz is a Polish state-owned enterprise and a global producer of copper and silver.
Bank Gospodarstwa Krajowego is a state development bank that aims at “supporting social and economic development of Poland and public sector in implementation of their tasks.” Gide reports that the loan granted to KGHM Polska Miedz is the largest bilateral loan in the bank’s history.
Gide’s team consisted of Partner Dariusz Tokarczuk and Legal Advisor Pawel Wasiel.
The White & Case team consisted of Partner Tomasz Ostrowski, Local Partner Aneta Urban, and Associate Katarzyna Jakubiak.