Czabanski & Galuszynski has advised Polskie Gornictwo Naftowe i Gazownictwo SA on a PLN 10 billion credit agreement with a consortium of banks consisting of Bank Gospodarstwa Krajowego, Bank Pekao, BNP Paribas Bank Polska, Caixa Bank Oddzial w Polsce, ING Bank Slaski, Intesa Sanpaolo Oddzial w Polsce, PKO Bank Polski, Santander Bank Polska, and Societe Generale. The banks were advised by Linklaters.
PGNiG is engaged in the extraction of natural gas and oil in Poland, import of natural gas into Poland, storage of gas in underground storage, distribution of gaseous fuels, developing natural gas and oil deposits, and providing geological, geophysical, and exploration services in Poland and abroad. The group has been listed on the Warsaw Stock Exchange since 2005.
The term of the loan is five years. The fund is intended to finance energy security projects in Poland, involving the PGNiG Capital Group, such as investments in the national extraction of hydrocarbons, expansion of the distribution network in Poland, investments in the manufacturing sector, development of activities in the Norwegian continental shelf, and other areas where PGNiG operates.
The C&G team consisted of Partner Piotr Galuszynski and Associates Krzysztof Szulc, Jakub Lach, and Katarzyna Sotyn.
The Linklaters team consisted of Managing Associate Marta Domino and Associate Maciej Checinski.