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Norton Rose Fulbright and Hogan Lovells Advise on Financing for Polish Rail Company

Norton Rose Fulbright and Hogan Lovells Advise on Financing for Polish Rail Company

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Norton Rose Fulbright has advised a consortium of banks consisting of Bank Gospodarstwa Krajowego, Bank Zachodni WBK S.A., Powszechna Kasa Oszczednosci Bank Polski S.A., and the European Investment Bank on a PLN 629 million loan facility to be made available to Polish transport company Przewozy Regionalne sp. z o.o. Hogan Lovells advised Przewozy Regionalne on the deal. 

The facility agreement was signed on December 16, 2016. The signing ceremony was attended, among others, by Mateusz Morawiecki, Deputy Prime Minister, Minister of Economic Development and Vazil Hudak, Vice-President of the European Investment Bank. The investment is the first Polish project benefiting funds under The European Commission's Investment Plan for Europe known as the "Juncker Plan."

Przewozy Regionalne is the largest passenger carrier in Poland for domestic rail travel. The purpose of the facility is to enable Przewozy Regionalne to purchase new rolling stock and to modernize existing stock.

Norton Rose Fulbright advised the lenders throughout the transaction and negotiated the finance documentation, as well as structuring and drafting the inter-creditor agreement setting out the relationship between the various lenders and the borrower. The firm's team was led by Partner Grzegorz Dyczkowski, assisted by Of Counsel Piotr Milczarek, Senior Associates Tomasz Rogalski and Joanna Braciszewska-Szarapa, Associates Maksymilian Jarzabek and Konrad Leszko, and Paralegal Adrian Wieslaw.

The Hogan Lovells team was led by Partner Rafal Grochowski, supported by Senior Associate Elzbieta Rablin-Schubert and Associate Anna Kuczewska.

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