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28 February 2019
Deals | Poland | Banking & Finance
Gide Warsaw advised KGHM Polska Miedź S.A. on financing granted by Bank Gospodarstwa Krajowego (BGK).
On 27 February 2019, KGHM Polska Miedź S.A. and Bank Gospodarstwa Krajowego concluded an agreement on an unsecured loan for USD 450 million. The financing period is seven years, the first five years of which is in the form of a revolving credit line, and is then transformed into a non-revolving loan, repayable in four equal semi-annual instalments.
The loan will be used for general corporate purposes, i.e. for current operations and investments.
The company was advised on this transaction by partner Dariusz Tokarczuk and legal advisor Paweł Wasiel.
KGHM Polska Miedź S.A. is a major Polish state-owned enterprise and a leading global producer of copper and silver.
Bank Gospodarstwa Krajowego is a state development bank whose mission is to support the social and economic development of Poland and the public sector in the implementation of its tasks. The loan granted to KGHM Polska Miedź S.A. is the largest bilateral loan in the bank’s history.
