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Dentons Advises PGE on Financing Agreement

Dentons Advises PGE on Financing Agreement

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Dentons has advised PGE Polska Grupa Energetyczna on a PLN 4.1 billion financing provided by a consortium of banks, including PKO Bank Polski S.A., Intesa Sanpaolo S.p.A., MUFG Bank N.V., and Santander Bank Polska S.A. The banks were represented by Clifford Chance.

According to Dentons, “this was the largest revolving credit facility issued in the country in 2018, and the funds will be used to finance PGE Group’s day-to-day business activity, investment expenses and capital expenditures, and to refinance the group’s debt.”

Agnieszka Lipska, Counsel on Dentons’ Banking and Finance team who led the firm's team on the matter, commented: “It goes without saying that the good credit rating of the Polish energy companies, especially those focusing on energy distribution and transmission, helps a lot in this process.”

Lipska was supported by Dentons Associate Lukasz Blaszczak.

Clifford Chance did not reply to our inquiries on the matter.

Editor's note: After this article was published, Clifford Chance confirmed its involvment on the deal. Their team included Partner Andrzej Stosio, Senior Associate Mateusz Chrusciak, and Associate Wojciech Wator.

Poland Knowledge Partner

Established in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 300 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

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