Dentons advised the biggest energy group in Poland, PGE Polska Grupa Energetyczna S.A., on a PLN4.1 billion (€957 million) financing transaction, the largest revolving credit facility issued in the country in 2018.

The revolving credit facility was provided by a consortium of banks, including PKO Bank Polski S.A., Intesa Sanpaolo S.p.A., MUFG Bank (Europe) N.V. and Santander Bank Polska S.A.

The funds will be used to finance PGE Group’s day-to-day business activity, investment expenses and capital expenditures, and to refinance the group’s debt.

Agnieszka Lipska, a counsel in Dentons’ Banking and Finance team, was the main legal advisor to PGE on the deal. Observing that international financial institutions are increasing their interest in supporting domestic energy companies in Poland, she commented: “It goes without saying that the good credit rating of the Polish energy companies, especially those focusing on energy distribution and transmission helps a lot in this process.”

“We are honored that the biggest energy company in our country has once again selected Dentons to advise them on this significant financing transaction”, said partner Mateusz Toczyski, Head of Dentons Banking and Finance team in Poland and Europe. “With our deep experience and fluency in both the energy and the banking sector, Dentons is uniquely positioned to negotiate landmark deals quickly and efficiently.”

Agnieszka Lipska was supported in the negotiations by Łukasz Błaszczak, an associate in the Banking and Finance team.

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