Press Release

White & Case Advises Synthos S.A. on €350 Million Senior Notes Issuance

Global law firm White & Case LLP has advised Synthos S.A., one of the largest European producers of chemical raw materials, on the issuance of senior notes with a total value of €350 million. The notes have been issued by Synthos Finance AB (publ), a special purpose vehicle with a registered office in Stockholm, Sweden and a wholly owned subsidiary of Synthos S.A.

The bonds were issued under a private offer to selected institutional investors, pursuant to Regulation S and Regulation 144A of the U.S. Securities Act of 1933. The agreement on the conditions of the bond issue is governed by the law of the State of New York, USA. The bonds are unsecured with a stable interest rate of 4.00 percent per annum reaching final maturity in 2021. The bonds are listed on the Irish Stock Exchange and admitted for trade on the Global Exchange Market.

"This was a complex project involving Polish, Swedish, Czech and American law, bringing together several teams of White & Case lawyers, from the capital markets practice as well as banking and finance, acting simultaneously in several of our offices," said White & Case partner Andrzej Sutkowski, who coordinated Synthos' issuance of bonds. "In the last year the Firm has actively advised on all high yield bonds issued by Polish companies, which clearly demonstrates our reputation among law firms advising on debt instruments."

The Firm advises on projects including the issuance of bonds by P4 (the Play operator), PZU S.A. and TVN S.A.

The participating banks included BNP Paribas, Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, Banco Santander S.A., ING Bank N.V., London Branch, Powszechna Kasa Oszczędności Bank Polski S.A. and UniCredit Bank AG.

The White & Case team in Warsaw advising Synthos S.A. was led by partners Marcin Studniarek and Andrzej Sutkowski. They were supported by local partner Tomasz Ostrowski and associates Bartosz Smardzewski, Monika Dużyńska, Aneta Urban and Sylwia Opiatowska; partners Rob Mathews and Jill Concannon and associates Annie Serafim and Jennifer Reiss in London; partner Carl Hugo Parment and associates Michael Bark-Jones, Petter Alberts and Emil Björkhem in Stockholm; local partner Eva Svobodová, counsel David Ilczyszyn, and associate Ondřej Bartoň in Prague; and partners John Donovan and Gregory Little in New York.

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