White & Case advises Advanced Protection Systems on up to PLN 600 million strategic financing for defence sector

Global law firm White & Case LLP has advised Polish company Advanced Protection Systems S.A. (APS) on its PLN 450 million financing, comprising guarantee lines and a revolving credit facility, with an option to increase the total financing to PLN 600 million through the addition of an investment loan and an incremental revolving credit facility.

This financing will, among other things, allow APS to scale production and sustain substantial investment in software development and radar technologies, delivering market leading counter-drone solutions. It was arranged by a consortium of banks including Bank Polska Kasa Opieki S.A., mBank S.A. and Bank Millennium S.A., with Pekao Investment Banking acting as exclusive financial advisor to APS. KUKE S.A. (Export Credit Insurance Corporation) will provide financial guarantees worth almost PLN 50 million.

White & Case previously advised APS on contracts for the delivery of Project SAN, Poland’s SAN anti-drone shield, signed between the Polish Armaments Agency and a consortium of Polska Grupa Zbrojeniowa (PGZ) and Kongsberg Defence & Aerospace and a subcontracting agreement between PGZ and APS regarding key components for Project SAN. The total value of Project SAN is around PLN 15 billion.

APS delivers a fully integrated C-UAS (Counter-Unmanned Aerial Systems) product ecosystem, enabling long-range detection, precise tracking and effective neutralization of LSS (Low, Slow, Small) drones. As part of Poland’s Project SAN, APS plays a key role in delivering critical system components, including the C2 command and control system, detection radars and interceptor drones.

The White & Case team in Warsaw that advised on the transaction included partner Maciej Zalewski, local partner Michał Oleś and associates Anna Stawińska and Dawid Książek.

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