Deloitte Legal has helped Iglotex S.A., which is co-owned by Penta Investments, negotiate with a banking consortium for a facilities agreement totaling PLN 160 million.
According to Deloitte, “[Iglotex], a leader in the frozen food market in Poland, obtained funding for its investments and ongoing operations, as well as refinancing its existing debt. The new [loan] shall be used to reconstruct the new facility in Skorcz after a fire that destroyed it in May 2019 and to invest in a production facility of 13,600 square meters, warehouses of 9,000 square meters, a distribution division with a fleet of over 700 vehicles, and office space of 1,800 square meters.”
The Deloitte Legal team included Partner Agnieszka Ziolek, Senior Managing Associate Antoni Goraj, and Senior Associate Aleksandra Witowska.
Deloitte Legal announced that it was unable to provide additional information about the deal, including the identity of the lenders or the firm(s) that represented them.
Editor's note: After this article was published, CEE Legal Matters learned that the banking consortium in question consisted of BNP Paribas Bank Polska and Santander Bank Polska, both of which were advised by Clifford Chance Warsaw. The firm's team included Partner Andrzej Stosio, Senior Associate Anna Miernik, and Associates Natalia Karasiewicz and Artur Gladysz.