Bird & Bird's Warsaw office has supported Energa S.A. on the planned hybrid bond issuance by Energa-Operator S.A..
The financing obtained from the issuance, which is worth over PLN 1 billion, will be used to implement an investment program in 2017-2019, covering the electricity distribution network's modernization and extension of infrastructure in Poland, with a total estimated value of approximated EUR 814 million.
Bird & Bird's advice included drafting the subscription agreement, purchase proposal, and bond issuance terms for the two planned tranches. The documentation was completed in December 2017.
Bird & Bird's team included Counsel Katarzyna Piechocka, Head of Financing Transactions Desk Maciej Georg, and Junior Associate Anna Fujak, all working under the supervision of Managing Partner Slawomir Szepietowski.