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Clifford Chance and White & Case Advise on P4 Financings

Clifford Chance and White & Case Advise on P4 Financings

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Clifford Chance has advised a consortium of Bank Zachodni WBK S.A. (Agent and Security Agent), Alior Bank S.A., Bank BGZ BNP Paribas S.A., DNB Bank ASA, DNB Bank Polska S.A., PKO Bank Polski S.A., TFI PZU S.A. and Raiffeisen Bank International AG in relation to a transaction concerning the granting of term facilities and revolving facilities in the amount of PLN 7 billion for Play Holding 2 S.a r.l. and P4 sp. z o.o. (PLAY's network operator). White & Case advised the borrowers on the loan, which was designed for, among other things, the refinancing of the current debt and financing of the general corporate objectives of the capital group.

According to Clifford Chance, "PLAY is currently the most popular mobile operator among customers in Poland. It has over 14.4 million registered SIM cards, which constitute over 26.3% of the market (status as at December 2016). In November 2013, PLAY launched its 4G LTE offer, whose range covers over 92.1% of Poland's population."

The Clifford Chance team was led by London-based Partner Richard Sharples, and in Warsaw by Managing Partner Grzegorz Namiotkiewicz. The team's work was coordinated on an ongoing basis by Counsel Irena Floras-Goode, and it included Senior Associate Katarzyna Jakubiak and Associates Piotr Weclawowicz and Mateusz Chmura.

Editor's Note: After this article was published, White & Case announced that its team had been led by London Partners Ian Bagshaw and Martin Forbes and Warsaw Partners Marcin Studniarek and Tomasz Ostrowski, and included Warsaw Local Partner Rafał Kaminski, Warsaw Counsel Grzegorz Jukiel, Warsaw Associates Aneta Urban, Anna Pawelec, and London Associates Ahu Langley, Nicola Chapman and Marketa Stafkova.

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