White & Case advises PGE Polska Grupa Energetyczna on PLN 3.886 billion term loan

Global law firm White & Case LLP has advised PGE Polska Grupa Energetyczna (PGE), Poland's largest power company, on a PLN 3.886 billion term loan covered by a guarantee issued by the Polish Export Credit Agency.

The loan proceeds will be used to finance or refinance capital expenditures related to the construction of an 882 MW combined-cycle gas turbine unit in Rybnik, Poland.

The lending syndicate comprised PKO Bank Polski S.A., Bank Gospodarstwa Krajowego, Erste Bank Polska S.A. and Bank Polska Kasa Opieki S.A.

PGE's activities cover the entire energy supply chain, including electricity and heat generation, electricity and heat distribution, and electricity sales, as well as investments in renewable energy sources, including offshore wind farms and energy storage.

The White & Case team in Warsaw that advised on the transaction was led by partner Grzegorz Abram and included local partner Michał Oleś and associate Mateusz Dyduch.

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