Cyfrowy Polsat’s PLN 1 Billion Green Bond Offering

Greenberg Traurig advised Cyfrowy Polsat on the issue of series C green bonds with an aggregate nominal value of PLN 1 billion.

The transaction marks the first issue of green bonds on the Polish market conducted by a non-financial entity outside of the public sector, in line with the Green Bond Framework and positively verified for compliance with the Green Bonds Principles 2018 by an independent expert (Second Party Opinion). The proceeds from the issue will be used to refinance pro-environmental projects, improve energy efficiency of Grupa Polsat and reduce of the carbon footprint associated with the electronic devices manufactured by Cyfrowy Polsat.

Cyfrowy Polsat, within its bond issue program, issued unsecured bearer series C bonds. The bonds were issued through a public offering addressed solely to qualified investors, which did not require a prospectus to be prepared. The company introduced the bonds to the Alternative Trading System operated by the Warsaw Stock Exchange within the framework of the Catalyst. The bonds are expected to be listed in February.

Grupa Polsat is the largest in Poland and one of the leading media and telecommunications groups in the region. The Group provides its 5.7 million customers with access to 17 million services: telecommunication, pay digital TV and Internet.

Greenberg Traurig provided comprehensive legal advice to Cyfrowy Polsat with respect to the establishment of the bond program, conducting the public offering, registration of the series C bonds with the Central Securities Depository of Poland and the introduction of the bonds to trading in the Alternative Trading System, with a team led by Karolina Dunin-Wilczynska (Picture) and Daniel Kaczorowski, with support from Partners Aleksander Janiszewski and Andrzej Wysokinski. The team also included Senior Associate Marek Kleczek, Associate Maja Gawrysiuk and Associate Grzegorz Socha.

Involved fees earner: Karolina Dunin-Wilczyńska – Greenberg Traurig; Maja Gawrysiuk – Greenberg Traurig; Aleksander Janiszewski – Greenberg Traurig; Daniel Kaczorowski – Greenberg Traurig; Marek Kłeczek – Greenberg Traurig; Grzegorz Socha – Greenberg Traurig; Andrzej Wysokinski – Greenberg Traurig;

Law Firms: Greenberg Traurig;

Clients: Cyfrowy Polsat;