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Clifford Chance and Linklaters Advise on Syndicated Financing for PESA Bydgoszcz

Clifford Chance and Linklaters Advise on Syndicated Financing for PESA Bydgoszcz

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Clifford Chance has advised a syndicate of banks, with PKO BP as its agent, in connection with the signing of a credit facility agreement with PESA Bydgoszcz S.A. concerning the granting of a PLN 200 million credit facility to the company. Linklaters advised PESA Bydgoszcz on the financing.

In addition to PKO BP the syndicate included Pekao (as the security agent), BGK, BZ WBK, mBank, and Raiffeisen.

PESA Bydgoszcz is the largest Polish manufacturer of rail vehicles and is engaged in the modernization, repair, and inspections of rolling stock.

According to Clifford Chance, "the new financing will enable the company to perform its obligations. Thanks to an effective conclusion of time-consuming and complicated negotiations, the agreement signed and granted credit facility will allow the company to perform its already concluded contracts and procure new orders. The next stage will be the recapitalization of the company by investors who will guarantee its stable development."  

The Clifford Chance team advising the syndicate of banks was led by Partner Andrzej Stosio. The work of the team and transaction process was coordinated by Counsel Irena Floras-Goode and the team consisted of Banking and Finance Counsel Milosz Golab, Senior Associate Iwo Klijewicz, Associates Mateusz Chmura, Piotr Weclawowicz, Pawel Dlugoborski, Anna Miernik, and Trainee Krystian Kuropas.

The Linklaters team advising PESA Bydgorszcz was led by Partner Jaroslaw Miller and included Managing Associate Marta Domino and Junior Associates Agata Brzozek and Piotr Hurkala.

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