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Closing: OT Logistics’ Debt Restructuring Now Closed

Closing: OT Logistics’ Debt Restructuring Now Closed

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On April 27, 2023, Wardynski & Partners announced that OT Logistics’ debt restructuring (as reported by CEE Legal Matters on June 26, 2019) had closed.

According to Wardynski & Partners, “at the end of March 2023, the last financial creditors were satisfied and OT Logistics had paid down its entire debt. The transaction is an example of a successful, consensual, out-of-court restructuring with full satisfaction of all financial creditors.”

As previously reported, Wardynski & Partners had advised the largest bondholders of series D and F bonds issued by OT Logistics regarding the issuance of series H refinancing bonds. Wolf Theiss advised lender Bank Gospodarstwa Krajowego, while Clifford Chance reportedly advised OT Logistics and White & Case reportedly advised the banks on the issuance.

OT Logistics S.A. is a publicly listed port operator that operates inland waterway transport in Poland and Germany. The issuance of series H secured bonds was the last stage of the financial debt restructuring of the group, which also included an extension of the maturity of credit facilities and series G bonds.

The Wardynski & Partners team included Partner Lukasz Szegda, Senior Associates Artur Bednarski and Marcin Pietkiewicz, and Associate Mateusz Tusznio.

The Wolf Theiss team included Partner Przemek Kozdoj, Senior Associates Stefan Feliniak and Michal Kulig, and Associate Magda Werner.

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