Michał Horelik

Associate, Warsaw

Biography

Overview

Michał Horelik is an associate in the White & Case Debt Finance practice. He focuses on the representation of major commercial, investment and multilateral development banks, private equity sponsors, private credit providers and corporate borrowers in connection with financing transactions, with special emphasis on cross-border leveraged deals involving loan facilities and debt securities. His areas of specialization include acquisition finance (LBOs, MBOs, in particular mezzanine finance), project finance and corporate finance. He has also engaged in policy and regulatory projects, preparing various opinions, policy overviews, and memoranda, and advising on sustainable development finance, derivatives, real asset finance and structured finance issues.

Prior to joining White & Case, Michał gained experience in the banking and finance departments of large international law firms based in Warsaw, in the Public Diplomacy Department of the Consulate General of the Republic of Poland in New York, as well as working as an advisor to an independent senator in the Senate of the Republic of Poland.

Bars and Courts
Poland, Polish Bar Council
Education
Master's Degree
University of Warsaw

Faculty of Law and Administration

Languages
Polish
English

Experience

His experience includes:

UBS AG: representation of UBS AG in connection with the refinancing of the existing indebtedness incurred by the borrower in relation to the construction of an office building in London.

BGK: representation of the Polish National Development Bank (Bank Gospodarstwa Krajowego) and KUKE on a direct financing for the Treasury of the Republic of Rwanda in the amount of EUR 23 million, which was granted under a sovereign finance structure with the Rwandan Treasury as the borrower directly and the Polish exporter Faspol as the beneficiary of the funds.

BGK: representation of the Polish National Development Bank (Bank Gospodarstwa Krajowego) in the preparation and negotiation of multiple transactional documents in a ~USD 671 million issuance of Samurai bonds issued by the Polish National Development Bank (Bank Gospodarstwa Krajowego) and acquired by a consortium of Japanese financial institutions.

Bank Pekao S.A.: representing Bank Pekao S.A. in the process of providing financing for the acquisition of 100% of shares in PCB Technical Solutions Limited, an English company, by the English subsidiary of Sescom S.A.

PartyDeco sp. z o.o. and its founders: representation of PartyDeco sp. z o.o., a leading producer of special event decorations in Europe and its founders, in the preparation and negotiation of financial and security documents in the process of obtaining financing for an investment deal under which RiO ASI, a family office, acquired a stake in PartyDeco sp. z o.o.

EBRD: representation of the European Bank for Reconstruction and Development on a USD 100 million secured loan to MHP, a Ukrainian poultry and grain producer.

Bank Pekao S.A.: representation of Bank Pekao S.A. in  financing with a nominal value of PLN 110 million extended to an SPV entity from the Respect Energy group with the purpose of refinancing the existing financial indebtedness and financing related to the acquisition of shares in two wind farm projects with a total installed capacity of 50MW.

EBRD: representation of the European Bank for Reconstruction and Development on a EUR 10.8 million loan to a Serbian machining manufacturer, Stax Technologies, for the purposes of expanding its production facilities, purchasing state-of-the-art equipment, and implementing energy efficiency improvements, including the installation of a new 300-kilowatt rooftop solar power system, which will allow the company to produce the energy it needs for its own operation in a sustainable way.

Bank consortium: representation of a consortium of 3 banks - Zagrebačka banka, HBOR - Hrvatska banka za obnovu i razvitak and the European Bank for Reconstruction and Development - in connection with the financing (development and acquisition) of a EUR 126 million renewable energy project in Croatia (onshore windfarm in Zadar).

Bank consortium: representation of a consortium of 4 banks -  UniCredit, Credit Suisse, Eurobank and OTP Bank - in connection with the refinancing of a EUR 205 million renewable energy project in Serbia (Cibuk onshore windfarm).

Volkswagen Financial Services: representation of Volkswagen Financial Services on the international issue of bonds worth PLN 410 million under an increased bond program with a new total maximum of PLN 5 billion.

EBRD: representation of the European Bank for Reconstruction and Development on a EUR 5 million loan to PragmaGo S.A., a Polish fintech factoring company.

Publications

Big Short, Or, How the Practice of Banks, Hedge Funds, and Private Equity Funds Affects Legal and Market Reality, Przegląd Prawa Handlowego / Commercial Law Review Aug 26, 2022, Michał Horelik.

Securitisation in the context of the operations of a domestic insurance company (3 articles), Dziennik Ubezpieczeniowy / Insurance Journal 17 March 2023; 5 May 2023; 12 May 2023, Michał Horelik.

Credit Suisse's acquisition by UBS - what does it mean for financial markets?, Dziennik Ubezpieczeniowy / Insurance Journal 24 March 2023, Michał Horelik.

Work on the Insurance Recovery and Resolution Directive, what does it mean for the insurance market? - current issues, Dziennik Ubezpieczeniowy / Insurance Journal 31 March 2023, Michał Horelik.