Polska Grupa Energetyczna Zl5.5 billion financing

Overview:

• PGE Polska Grupa Energetyczna (PGE)— the largest Polish energy company—obtained Zl5.5 billion ($1.3 billion) financing from a consortium of banks consisting of BNP Paribas, Société Générale, Bank Handlowy w Warszawie, ING Bank Śląski, Bank Zachodni, mBank, Powszechna Kasa Oszczędności Bank Polski and Bank Polska Kasa Opieki.
• The deal set a new standard to Polish corporate financing of state-owned entities, and much of the Loan Market Association (LMA) boilerplate was renegotiated to balance the interests of the parties.
• The purpose of the loan is for PGE to finance its investment projects. Bank Handlowy w Warszawie acted as the facility agent and arranger of the financing.

Adam Majeed - Regional editor