Michał Horelik
Michał Horelik
Michał Horelik
Michał Horelik

Biography

Michał Horelik is an associate in the White & Case Debt Finance practice. He represents financial institutions, private equity sponsors, private credit providers and corporates on complex cross-border and domestic debt financings and restructurings, with a focus on leveraged transactions, asset-based structures and special situations. His practice spans a broad range of financing products, including leveraged M&A and LBOs, distressed debt sales and rescue financings, asset-based lending, including securitizations and asset-backed securities, aviation finance and structured asset leasing and out-of-court workouts.

Michał also regularly advises on liability management deals and refinancing strategies, debt capital markets offerings and exchanges, derivatives, project finance, and bespoke credit solutions across various jurisdictions, with experience acting for clients from multiple sectors.

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.

Experience

His experience includes:

Apollo Global Management and Tenneco: Advised Apollo Global Management and Tenneco (a portfolio company of Apollo Global Management) a leading designer, manufacturer and marketer of automotive products for OEM and aftermarket customers, in connection with an asset-based credit facility consisting of aggregate commitments totaling approximately $1.2 billion.

Major airline: representation of major airline in connection with the novation under English law of lease agreements for several aircraft.

Major airline.: representation of a major airline in connection with the restructuring of lease agreements relating to the company's fleet with a number of operating lessors and in connection with the termination of leases and buyouts of aircraft and aircraft engines.

Major financial institution: Representation of major financial institution in the process of selling credit receivables to investors and enforcing security documents securing certain financing agreements.

Bank syndicate of initial purchasers led by Deutsche Bank and J.P. Morgan: Advised a bank syndicate of initial purchasers, led by Deutsche Bank and J.P. Morgan on the issuance of various financial instruments by Mangrove LuxCo III S.à r.l. and its subsidiaries for the early and full repayment of Kelvion's existing €710 million restructuring liabilities.

Enea S.A.: representation of Enea S.A. in connection with its issuance of PLN 2 billion bonds with the rate of interest tied to ESG criteria, part of its PLN 5 billion bond issuance program. Bank Pekao S.A. and PKO Bank Polski S.A. acted as dealers.

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 and KUKE: 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 €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 ~US$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.: 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.

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 €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 €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 €5 million loan to PragmaGo S.A., a Polish fintech factoring company.

Poland, Polish Bar Council
Master's Degree
University of Warsaw

Faculty of Law and Administration

Polish
English

Creditor Protection through Choice of Governing Law, The Intergovernmental Organisations In-House Counsel Jorunal, Issue 3 – October 2024, Michał Horelik.

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.

Service areas