Paweł Zagórski

Local Partner, Warsaw



Paweł Zagórski is an advocate in the Debt Finance practice in White & Case's Warsaw office. Paweł specialises in banking and capital markets law (with a special emphasis on the issues of debt securities), financial restructuring and insolvency proceedings.

His experience includes advising arrangers, issuers and bondholders on the establishment of issuance programmes and performance of the issuance of debt securities, advising borrowers and lenders in connection with the financing transactions as well as advising creditors and debtors in debt restructuring projects.

Bars and Courts
Poland, Polish Bar Council
University of Florida Levin College of Law

and Warsaw University, Center for American Law Studies

Master's Degree
Cardinal Stefan Wyszyński University, Faculty of Law and Administration


Cavatina Holding S.A.: representation of Cavatina Holding S.A. on the establishment of a bond issue program of up to PLN 200 million organized by a consortium of banks consisting of Santander Bank Polska S.A. and PKO Bank Polski S.A. The bonds under the program were offered to qualified investors by way of an prospectus-exempt public offering and are subject to listing in the alternative trading system organized by the Warsaw Stock Exchange.

GLP: Representation of GLP in connection with the transfer of its portfolio companies to a fund, including the sale of 100% of the shares in the PropCos. As it was a transfer to a fund managed by GLP, our role was to advise both the seller and the buyer on the transactional and financing aspects of the deal in Poland.

A bank: representation of a bank, as the arranger and the pledge administrator, in connection with the restructuring and enforcement of the financial indebtedness of a company from the real estate sector.

A German insolvency administrator: representation of a German insolvency administrator of GEMO GmbH & Co KG in connection with the restructuring of the indebtedness of Gemo Silesia sp. z o.o.

mBank S.A.: representation of mBank S.A. in connection with the issue of bonds of Develia S.A. under the bond issuance program up to PLN 400 million.

mBank S.A.: representation of mBank S.A. in connection with the establishment of a PLN 200 million bond issuance program of Marvipol Development S.A.

mBank S.A.: representation of mBank S.A., acting as the arranger, in connection with the update of the bonds issue program of Dino Polska S.A. up to PLN 1 billion and an issuance of bonds under the updated program. The bonds will be offered to qualified investors and were introduced to trading on the alternative trading system organized by the Warsaw Stock Exchange (Giełda Papierów Wartościowych w Warszawie S.A.).

mBank S.A.: representation of mbank S.A. in connection with the update of Echo Investment S.A.'s bond issuance program for up to PLN 1 billion in bonds and the issuance of bonds under the updated program in the amount of PLN 195 million.

Financial institutions: representation of a consortium of financial institutions in connection with facilities agreement for the more than PLN 5.5 billion financing of the Polimery Police project. The Polimery Police investment, which is the largest investment project in the history of Grupa Azoty and one of the largest investments in the chemical sector in Poland in recent years, consisting of a propane dehydrogenation installation (PDH installation), a polypropylene production installation (PP installation) and an auxiliary installation (project finance formula).

PKN Orlen S.A.: representation of PKN Orlen S.A. a Polish oil refiner and petrol retailer, on the issuance of ESG-linked bonds, with a value of PLN 1 billion. This was Central Europe's first-ever issuance of corporate bonds linked to an MSCI ESG Rating, with the interest rate based on an independent environmental, social and governance (ESG) rating. The proceeds will be applied to fund some of the capital projects undertaken to advance the company's 2050 carbon neutrality strategy.