8 June 2009 - Gide Loyrette Nouel advises Telekomunikacja Polska on the largest corporate bond issue in Eastern Europe in 2009:

The London, Warsaw and Paris offices of Gide Loyrette Nouel have acted as English, Polish and French legal advisers to Telekomunikacja Polska S.A. (“TPSA”), on the successful closing of its benchmark issue of EUR 500,000,000 6.00 per cent. Guaranteed Notes due 2014 via its French subsidiary TPSA Eurofinance France S.A. as well as the recent establishment of its EUR 1,500,000,000 Euro Medium Term Note Programme. The bonds are unconditionally and irrevocably guaranteed by TPSA. TPSA is the largest telecoms operator in Poland, and this is the biggest bond issue ever undertaken by a Polish Telecommunications company.

TPSA was advised by a cross jurisdictional team from Gide comprising partner Michael Doran and associates Richard Pogrel and Manan Singh of the London Office (English law); partners Hubert du Vignaux and Olivier Dauchez (tax) and associates Marc-Etienne Sébire and Rosetta Ferrère of the Paris Office (French law), and partner Paweł Grześkowiak and associates Agnieszka Kowalska and Marta Karmińska of the Warsaw Office (Polish law).

Michael Doran commented, "This is the first corporate Eurobond issue from Central & Eastern Europe in 2009 and so is notable as a gauge of market sentiment. It is a benchmark capital markets transaction and we were delighted to once again represent TPSA".

The issue of the Bonds was underwritten, and the EMTN programme was arranged, by Barclays Capital and Société Générale CIB.