Dentons has advised the Spanish company COMSA S.A.U. on a debt restructuring transaction and issue of new shares in Trakcja PRKiI S.A., a leading Polish infrastructure and energy company listed on the Warsaw Stock Exchange.

Dentons assisted the client in negotiating the documentation for bridge and long-term financing provided by banks, insurance companies and the Industrial Development Agency (IDA). The negotiated documentation included an amended and restated facility agreement, a share subscription agreement, an intercreditor agreement, a common terms agreement, security documents and shareholder loan agreements. Dentons also advised the client on corporate aspects related to the issue of new shares by Trakcja PRKiL S.A., offered to both the existing shareholders and a new investor — the IDA.

This is one of the largest and most comprehensive financial restructuring programs recently implemented in construction companies in Poland. The program’s value exceeds €230 million.

The Dentons team was led by Jakub Celiński, head of the Europe Equity Capital Markets practice, and also comprised counsel Piotr Nerwiński and Michał Wasiak, and associate Łukasz Błaszczak.

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