Grupa LOTOS S.A.’s Loan Facilities Refinancing

Norton Rose Fulbright has advised Grupa LOTOS S.A. on the refinancing of the loan facilities contracted by the company in connection with the Program 10+ financing.

Program 10+ initiated in 2010 is the enterprise and organizational investment in the oil industry and Grupa LOTOS S.A. supported by the Polish Government.

The financing was made available by a consortium of eight banks comprising ING Bank Slaski S.A., PEKAO S.A., PKO BP S.A., Sumitomo Mitsui Banking Corporation Bank EU AG, Intesa Sanpaolo S.p.A, Caixabank S.A., Industrial and Commercial Bank of China (Europe) S.A., and Erste Group Bank AG.

The new financing totalled US $500 million, comprising a US $400 million term loan facility and a US $100 million working capital loan.

Grupa LOTOS S.A. is the Poland-based parent company of the capital group involved in exploration, production and processing of crude oil and distribution of petroleum products.

Norton Rose Fulbright’s Warsaw-based team was led by banking partner Grzegorz Dyczkowski (Picture). The transaction also included senior associate Marta Kawecka and associate Igor Kondratowicz.

Involved fees earner: Grzegorz Dyczkowski – Norton Rose Fulbright; Igor Kondratowicz – Norton Rose Fulbright; Marta Kawecka – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Grupa LOTOS S.A.;

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