Dewey & LeBoeuf has represented Spartan Capital Holdings Sp. z o.o. and Eileme 2 AB (publ) in connection with the offering of €542 Million 11.750% Senior Notes due 2020 and US$500 Million 11.625% Senior Notes due 2020. The transaction is the largest European high yield notes issuance to date in 2012, the largest ever Polish corporate bond offering and the first significant euro-denominated high yield deal to emerge since November 2011.

Spartan Capital Holdings and Eileme 2 AB are indirectly controlled by Polish media entrepreneur Zygmunt Solorz-Żak and his partners. The notes were issued to refinance the high yield bridge loan used in Spartan Capital Holdings’ record-breaking PLN 18.1 billion acquisition of Polkomtel, Poland’s second-largest mobile network operator, in July 2011.

Dewey & LeBoeuf Warsaw Office Managing Partner Jarosław Grzesiak commented: “This transaction is another step in one of Europe’s stand-out deals of the past year. We are delighted to have played such a central part in representing Mr. Solorz-Żak on the acquisition of Polkomtel and the ensuing transactions, which have utilised our international M&A and Corporate Finance expertise.”

Following the acquisition of Polkomtel, Dewey & LeBoeuf advised Mr. Solorz-Żak in October 2011 on a €200 million investment by the European Bank for Reconstruction and Development, arranged through the acquisition of a 16.2% stake in Metelem Holding Company Ltd, one of the vehicles used in the Polkomtel deal. The team also advised Spartan Capital Holdings in November 2011 on the acquisition of all outstanding Guaranteed Floating Rate Notes due 2015 issued by Polkomtel Finance and guaranteed by Polkomtel S.A.

Dewey & LeBoeuf also advised Cyfrowy Polsat (founded by Mr. Solorz-Żak) on a PLN 3 billion LBO and bridge and permanent facility financing for its €1 billion acquisition of Telewizja Polsat in April 2011, followed by a high yield offering of €350 million 7 1⁄8% senior secured notes due 2018, issued in May 2011.

Mr. Grzesiak led a multi-jurisdictional Dewey & LeBoeuf team, which included high-yield partners Frank Adams in London and Christopher Peterson in New York, Warsaw Local Partner Rafał Sieński and Associates Karolina Dunin-Wilczyńska, Mateusz Chmielewski and Sławomira Wronek-Kuch and New York Associates Brian Rosenzweig, Peter Kim and Afua Annor.