Dentons in Poland advised TAURON Polska Energia S.A. in clinching a financing deal with Bank Gospodarstwa Krajowego (BGK) worth one billion Polish zlotys. This is BGK’s biggest financing transaction ever, without precedent in the bank’s history.
The agreement to organize and guarantee a bonds issue was executed by BGK and TAURON on July 31, 2013. The bonds will be issued to finance investment projects to be implemented as part of the investment strategy of the TAURON Group until 2020. The agreement is an element of the Polish Investments Program.
TAURON was assisted in the project by Robert Dulewicz, a Dentons partner co-heading the capital markets team in the firm’s Warsaw office, and Agnieszka Kozikowska, an attorney with this team. BGK was advised by the law firm Allen & Overy A.Pędzich sp.k.
This is not the first time we were invited to provide advisory services to this key player in the energy sector in connection with a major investment project. We see this as an acknowledgment of our team’s expertise in handling the largest financing transactions in Poland. TAURON coming back to us is also proof of the enormous trust our client has in us, said Robert Dulewicz.
This is yet another project handled by Dentons for the TAURON Group over the past three years. In 2012 Dentons advised TAURON on a bonds’ issue worth PLN 7.05bn which was hailed the biggest financing transaction in the energy sector in 2012.
