Global law firm White & Case advised ORLEN S.A. (Orlen), one of the largest multi-energy companies in Central and Eastern Europe, on the tap issuance of the second tranche of unsecured series C medium term bonds with a nominal value of US$250 million and fixed rate interest of 6% per annum.
The issuance, structured as a "tap issuance," was conducted under Orlen's global medium term bonds (GMTN) programme, pursuant to an exemption from the obligation to publish and prepare a prospectus in accordance with the Prospectus Regulation.
Citigroup Global Markets Europe arranged the issuance, with White & Case also advising on the launch and update of the GMTN programme.
The bonds are listed on the Euronext Dublin regulated market, and the proceeds from the issue will be used for the financing of Orlen's operations, including financing the investment projects arising from Orlen's 2035 strategy.
The White & Case team which advised on the transaction included partners Marcin Studniarek (Warsaw) and Melissa Butler (London), local partner Bartosz Smardzewski (Warsaw), counsel Doron Loewinger (London) and associates Dawid Książek (Warsaw) and Hashim Eltumi (London).
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