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Norton Rose, Ionescu Sava, and Integrites Advise on EBRD EUR 42 Million Financing for Cersanit

Norton Rose, Ionescu Sava, and Integrites Advise on EBRD EUR 42 Million Financing for Cersanit

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Norton Rose Fulbright, Ionescu Sava, and Integrites have advised the EBRD on its EUR 42 million senior secured loan for Cersanit to improve its production facilities in Poland and Ukraine.

"This investment is part of the EBRD’s widespread support to Ukraine struggling in the face of the Russian invasion," Norton Rose Fulbright reported. "The EBRD funding will enable Cersanit to scale up its tile and sanitaryware production both in Poland and Ukraine, including the completion of a project for manufacturing large-format ceramic tiles in Ukraine, reconstruction of an acrylics products factory in Poland, and completion of energy efficiency upgrades as well as other modernization investments in Poland."

Cersanit is a Poland-based ceramic tile and bathroom equipment producer and distributor "with a large operation in Ukraine that is expected to play an important role in the reconstruction of infrastructure damaged by war," according to the EBRD. 

"Despite a very challenging environment caused by the outbreak of war and increased energy prices, Cersanit has proved to be resilient and adaptive to the new economic reality," Cersanit owner Michal Solowow commented. "We remain committed to expanding our activities in Ukraine through continued production of ceramic tiles and sanitaryware. I want to thank all of Cersanit’s staff for their commitment, dedication, and empathy. I also firmly believe that other European and global businesses will follow in our footsteps and consider investing in Ukraine as well." 

The Norton Rose team was led by Counsel Marta Kawecka and included Counsel Joanna Braciszewska-Szarapa, Senior Associate Igor Kondratowicz, Associate Michal Rutkowski, and Paralegal Wiktoria Jadczak, as well as lawyers from the firm's London and Frankfurt offices.

The Ionescu Sava team was led by Senior Associate Diana Mardare.

Editor's Note: After this article was published, Integrites announced the composition of its team working on the matter: Partner Igor Krasovskiy, Counsel Olena Savchuk, and Senior Associate Yuriy Korchev.

Integrites at a Glance

INTEGRITES is a full-service law firm with the head office in Ukraine, office in Kazakhstan, and representative offices in Germany and the UK.

We provide legal services to companies seeking comprehensive advice on large deals and major disputes, as well as day-to-day operation. INTEGRITES is highly recommended for its cross-border work (whether sophisticated transactions or complex dispute resolution) and for the projects in energy, in particular, renewable.

Our mission is to help companies concentrate on development of their business while we take care of the legal issues. With profound industry-focused expertise, we deliver legal solutions that add value to the business of our clients and help them successfully handle legal challenges.

In 15 years INTEGRITES has served more than 1000 clients from around the globe, including Fortune 500 companies and international financial institutions. Clients in our portfolio are recognized leaders in various industries: from manufacturing, pharmaceuticals, and retail to agriculture, logistics, and renewables. Currently 80% of the companies we serve are international.

INTEGRITES has been consistently recognized by the leading international legal directories and rankings: Chambers Global/Europe, The Legal 500 EMEA, Who’s Who Legal, IFLR 1000, Best Lawyers, FT Innovative Lawyers.

All News about, and Legal Analysis by, Integrites can be found here.

Firm's website: www.integrites.com