Baker McKenzie has advised PKN Orlen on a revolving facility agreement under English law with a consortium of 16 banks. Clifford Chance advised the lenders on the deal.
According to Baker McKenzie, “the signed agreement includes a revolving loan facility … of up to EUR 1.75 billion for a period of three years with the possibility of extending it for another two years in a 1+1 formula. It is a multi-currency instrument that will be used to finance Orlen Group's current operations and development projects, including the development of low and zero-emission generation sources, modernization of refineries and petrochemicals, as well as the implementation of innovative solutions in the retail area.”
Baker McKenzie’s team included Partners Rafal Zakrzewski and Piotr Wysocki, Associates Pawel Ostrowski and Piotr Maksymiuk, and Lawyers Marcin Krzemien and Jan Szczurek.
Clifford Chance’s team included Warsaw-based Partner Andrzej Stosio, Senior Associate Maksymilian Jarzabek, and Associate Wojciech Wator, as well as Istanbul-based Partner Jared Grubb.
