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White & Case Advises PKN Orlen on Establishing EUR 5 Billion Eurobond Program

White & Case Advises PKN Orlen on Establishing EUR 5 Billion Eurobond Program

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White & Case has advised PKN Orlen S.A. on the establishment of its EUR 5 billion EMTN program and the subsequent issuance of EUR 500 million 1.125% green bonds due 2028. Allen & Overy reportedly advised the bookrunners.

PKN Orlen is a Polish oil refiner and petrol retailer, with operations in Poland, the Czech Republic, Slovakia, Germany, the Baltic countries, and Canada.

BNP Paribas, ING Bank N.V., Bank Pekao S.A., and UniCredit Bank AG reportedly acted as joint global coordinators and joint bookrunners, while CaixaBank S.A. and SMBC Nikko Capital Markets Europe GmbH reportedly acted as joint bookrunners.

According to White & Case, “the proceeds from the issue will finance green projects carried out by the company for the construction and acquisition of new renewable energy systems capacity, further development of a network of high-speed electric car chargers and charging infrastructure for buses and hydrogen cars, as well as the development of waste recycling facilities.” According to the firm, the bonds are listed on the Euronext Dublin regulated market and will be listed on the Warsaw Stock Exchange.

The White & Case team consisted of Warsaw-based Partner Marcin Studniarek, Counsel Bartosz Smardzewski, and Associates Damian Lubocki and Dawid Ksiazek, as well as London-based Partner Stuart Matty and Associate Jessica Oliver.

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