5 November 2021
Deals | Warsaw | Banking & Finance
Gide Warsaw advised TAURON on obtaining a loan of PLN 2.8 billion. This is the largest ever EIB corporate financing granted in Poland for purposes other than transport infrastructure. It is also the largest EIB financing ever obtained by TAURON, and one of the largest financings granted by the bank to a Polish company.
Lawyers from Gide Warsaw’s capital markets practice advised TAURON through the process of obtaining financing for a record amount of EUR 624 million or PLN 2.8 billion. The full amount raised in the financing process will be used to cover capital expenditure on power distribution grids in the southern and south-western parts of the country.
We are delighted to have successfully advised TAURON on such a key financing process and are grateful for their renewed trust. The PLN 2.8 billion raised will enable our client to modernise its power grids so increase its decarbonisation ratio, said Michał Śmiechowski, head of the capital markets practice at Gide Warsaw. We are proud to support TAURON's projects of such importance to the climate and the economy.
The client was supported in this transaction by counsel Michał Śmiechowski, head of the capital markets practice, and by associate Przemysław Kopka, from Gide Warsaw.
The Capital Markets Practice, led by Michał Śmiechowski, advocate and counsel at Gide Warsaw, advises issuers, investors, investment banks and other financial institutions on the Polish and international capital markets about all aspects of debt securities, including structuring financing in the form of issuing debt financial instruments such as bonds, bank securities, debentures, bills of exchange and others.