Czabanski & Galuszynski has advised Powszechna Kasa Oszczednosci Bank Polski SA and Credit Agricole Bank Polska SA. on syndicated financing for the Pamapol Group companies.
The Pamapol Group operates in the meat and vegetable processing industry, operating primarily in the ready-made meals segment, including canned meat, pates, ready-made soups, and canned vegetables, sold, according to Czabanski & Galuszynski, "both in the traditional channel via wholesalers as well as in large retail chains."
Powszechna Kasa Oszczednosci Bank Polski was loan agent, security agent, and loan organizer on the financing, which was designed to refinance existing Pamapol debt and finance current operations related to the purchase, delivery and installation, assembly and commissioning of machinery and equipment, serving in particular to improve production processes and reduce the consumption of energy in each group company.
On May 15, 2019, the Pamapol Group signed an annex to the syndicated loan agreement of September 21, 2017. The annex increases the amount of the loan granted in September 2017, and also guarantees an additional investment loan in the amount of PLN 21 million. The total amount of credit granted to the Pamapol Group is PLN 131 million.
The Czabanski & Galuszynski team was led by Attorney Karolina Turko and included Associates Krzysztof Szulc and Jakub Lasz.