Full range of legal assistance in financing

See also Capital markets

We provide a full range of legal assistance in financing, with specific emphasis on project finance, real estate financing and acquisition financing, as well as debt restructuring. We also advise on regulatory matters affecting the operation of banks and other financial institutions, securitisation transactions, sales of loan portfolios, issues of debt securities, and establishment of branches of lending institutions.

Our clients include major Polish and foreign banks and other financial institutions, borrowers, private equity funds, bond trustees and bondholders. We act for borrowers from many industries, including the service sector, real estate, manufacturing, energy and metallurgy.

Thanks to regular cooperation with leading international law firms in the world’s major financial centres, we advise clients effectively in international financial transactions involving entire capital groups.

We regularly conduct training on project finance, debt restructuring and other banking issues. We also offer our clients free in-house training tailored to their needs.

As a member of the Loan Market Association, we have ongoing access to standard loan documentation and training organised by LMA.

We advise banks as well as enterprises raising various types of consortium financing or refinancing for their investments and day-to-day operations.

We advise investors, developers and lenders on cross-border and domestic transactions (bilateral and consortium deals). In the loan documentation for new projects, we draw on our extensive experience in restructuring of real estate loans.

We act for both lenders and borrowers (including private equity funds) in leveraged financing based on the assets of the target companies and their local subsidiaries. Transactions of this kind typically involve establishing security on the assets of the Polish subsidiaries, and advice on restrictions on financing of acquisitions by the target companies. We regularly take part in international transactions involving the acquisition of capital groups that include Polish companies. We advise on refinancing of existing acquisition debt, including via issuance of debt securities.

We advise banks, enterprises obtaining financing for their projects, and public institutions on large-scale infrastructure projects, including in the utilities sector.

We advise on asset finance transactions, involving such assets as ships, aircraft, and various types of machinery. We are also experienced with finance leasing products and other tax-driven structures.

We advise on issues of bonds and other types of debt securities, including corporate bonds (public and private), convertible bonds, commercial paper, bank securities, and subordinated intra-group debt. Our clients include issuers, arrangers, bondholders, and trustees for Eurobonds from Polish issuers. We advise on negotiation of documentation for bond issuance programmes, public debt issues and private placements, restructuring of bond debt, refinancing of credit via high-yield bonds, and insolvencies of Polish issuers or guarantors. We also advise issuers on listing of bonds on organised markets.

Over the years we have been involved in some of the largest debt restructurings in Poland. We have acted for lenders (both senior and mezzanine), bondholders, bond trustees and, on the debtor’s side, distressed borrowers, including public companies.

 

We assist in preparing the proper transaction structure for claims trading, including with the use of securitisation funds. In the case of complex transactions with multiple parties and international transactions this requires a multilayered analysis of various provisions of law. We advise in particular on such issues as the rules for transferring security for claims, the effect of assignment of claims on enforcement and insolvency proceedings, and choice-of-law rules for agreements on assignment of receivables and the like.

We create contract forms for claims trading. For clients who regularly conduct trading in claims, we provide different variations on the same contract depending on the nature of the claims involved, the type of security and so on. We also advise on creation of electronic platforms for claims trading.

We provide comprehensive transaction advice. We draft the set of legal instruments for the entire transaction, from tender documentation and contract patterns through documentation concerning assignment of security. As needed we also conduct due diligence with respect to the claims involved in the transaction.

We regularly act for banks and other financial institutions in judicial, administrative and arbitration proceedings of all types. These involve civil litigation, bankruptcy cases, corporate registration proceedings, and administrative proceedings before the Polish Financial Supervision Authority. We also conduct enforcement proceedings for our banking clients and develop strategies for dealing with potential events of default under financing agreements, attempts to strip assets, or failed restructuring.