TAURON Polska Energia S.A.’s PLN 500 Million Syndicated Loan

Clifford Chance advised the finance parties of this transaction.

Intesa Sanpaolo S.P.A., acting through Intesa Sanpaolo S.p.A. S.A. Oddzial w Polsce, acted as lender and paying agent, Banca IMI S.p.A., London Branch as mandated lead arranger and bookrunner, China Construction Bank (Europe) S.A. acting through China Construction Bank (Europe) S.A. Oddzial w Polsce as lender and mandated lead arranger and bookrunner, as well as Banca IMI S.p.A. as facility agent on the signing of a PLN 500 million syndicated revolving credit facility agreement.

The funds available under the facility may be used for general corporate purposes of the borrower’s group, excluding any new projects related to coal assets. The interest rate on the loans will be floating and will be calculated based on WIBOR benchmark rate increased by a margin. The margin depends on, among other things, the level of utilisation of the credit facility and the level of pro-environmental key performance indicators (KPIs), i.e. the level of gas emissions and the share of renewable energy sources in the power generation mix of the borrower’s group.

The Clifford Chance team included: Andrzej Stosio (Picture), Partner and Co-head of the Banking & Finance Practice, Maksymilian Jarzabek, Senior Associate, Anna Miernik, Senior Associate, and Bartosz Zielinski, Associate.

Involved fees earner: Maksymilian Jarząbek – Clifford Chance; Anna Miernik – Clifford Chance; Andrzej Stosio – Clifford Chance; Bartosz Zieliński – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Banca IMI; Banca IMI, London Branch; China Construction Bank Corp.; Intesa Sanpaolo S.p.A.;