On 27 June, KGHM Polska Miedź S.A. issued two series of bonds, with a maturity of 5 and 10 years respectively, for a total amount of PLN 2 billion (approx. EUR 471 million).
The bond issue was carried out as part of a bond issue programme worth up to PLN 4 billion (approx. EUR 942 million) set up by KGHM on 27 May 2019.
To manage the programme, KGHM Polska Miedź S.A. appointed a consortium of dealers comprising PKO BP S.A., Bank Handlowy w Warszawie S.A., Bank Pekao S.A. and Santander Bank Polska S.A.
Gide’s legal advice covered all stages from setting up the bond issue programme to its implementation, via transaction structuring, preparing the transaction documentation, and providing support for the registration and settlement of the first bond issue under the programme.
Additional advice regarded agreeing on the principles under which an international financial institution could take up bonds issued under the first bond issue of the programme.
Gide's team advising KGHM Polska Miedź S.A. on this operation comprised partner Robert Dulewicz, counsel Michał Śmiechowski, associate Natalia Skomorowska from Gide’s Warsaw office, and associate Sarah Whitley from Gide's London office.
KGHM Polska Miedź S.A. is a State Treasury strategic company and one of the world's leading copper and silver producers.