Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
15 March 2021
Deals | Warsaw | Banking & Finance
Lawyers from the Capital Markets Department at Gide Warsaw have advised Tauron Polska Energia S.A., the dominant company in the TAURON Group – the largest distributor of electricity in Poland – on establishing a hybrid bond issue programme with a total value of PLN 450 million.
The client was assisted in the transaction by a team composed of counsel Michał Śmiechowski and associate Przemysław Kopka, led by partner Robert Dulewicz. Lawyers from the Capital Markets Department provided comprehensive legal assistance, including support in structuring the transaction, negotiating the transaction documentation and ensuring that the issue documentation complied with the requirements of the rating agency assigning a certain level of equity credit to the hybrid bonds.
“We are pleased that once again we could advise a company from the TAURON Group”, said Robert Dulewicz, partner in charge of the Capital Markets Department at Gide Warsaw. “This is one of very few hybrid corporate bond issues on the Polish market. Such issues require both purely legal advice and co-operation in the implementation of the predefined methodological requirements of rating agencies to ensure that the hybrid bonds qualify for a certain level of equity credit. We sincerely congratulate Tauron for arranging this financing programme”, added Robert Dulewicz.
For many years now, lawyers from the Capital Markets Department at Gide Warsaw have been among the leading experts in the field of DCM on the Polish market. The team advises issuers, investors, investment banks and other financial institutions on the Polish and international capital markets on all aspects related to debt securities, including on the structuring of financing in the form of issues or in issuing debt financial instruments such as bonds, bank securities, covered bonds, bills of exchange and other. Recently, the Capital Markets Department joined the ranks of those recommended by the international legal ranking Chambers Global 2021, in which individual recommendations were given to Robert Dulewicz - Band 1, and Michał Śmiechowski - Band 4.
