Banking and finance in Poland

Allen & Overy, A. Pedzich sp. k.

According to one client, Allen & Overy, A. Pedzich sp. k.'s team provides 'the best quality of work, leaving their competitors far behind', drawing on the international firm's long-term presence in Warsaw and access to strong English law capabilities. The group is well-versed in the gamut of financing transactions, advising a solid roster of foreign and domestic banks. The group includes Arkadiusz Pędzich, who is a real estate and project finance expert with an additional specialism in complex restructurings. Project finance lawyer Tomasz Kawczyński is another key individual, as is Piotr Lesiński, who handles the firm's structured finance transactions. Dan Cocker leads the CEE and SEE English law banking and finance group from the Warsaw office. Senior associate Anna Mądra focuses on real estate and project finance transactions, and she also plays an important role in the restructuring practice.

Practice head(s):

Arkadiusz Pędzich; Tomasz Kawczyński; Piotr Lesiński; Dan Cocker

Other key lawyers:

Anna Mądra; Jerzy Zdrojewski

Testimonials

‘Excellent, very experienced and professional team. They are always available and always have a client-friendly approach. We can count on them at any time in every aspect of legal advice. We cooperate with A&O for many years and have never experienced any problems.’

‘Partners and senior staff are always involved and available. As a client, we feel that there is a very good working climate and relations between team members in A&O and we benefit from it. All individuals with whom we work listen to us and provide more than we expect. They are very hands-on and committed which, combined with professionalism and experience, make the cooperation unique and very satisfactory.’

‘Strong team, good understanding of Polish and international market practice’

‘Strong lawyers, commercial, responsive.’

‘Very strong level of knowledge in their area, excellent understanding of our commercial priorities, good communication, independent and requiring very little supervision’

‘Tomasz Kawczyński- extremely knowledgeable and experienced within Banking and Finance, respected among financial institutions.’

‘In my opinion B&F team in A&O provides the best quality of work, leaving their competitors far behind. They managed to build a very comprehensive and professional team of lawyers, who meet the most sophisticated needs of their clients.’

Key clients

All major Polish banks including Santander, mBank, PKO BP, Bank Pekao, BNP Paribas

Polish Development Fund

Green Investment Group (part of Macquarie Group)

IFM Investors

Polenergia

PSA International

EIB

EBRD

Credit Agricole Bank Polska

ENERGA

BerlinHyp AG

Work highlights

  • Advised a consortium of PSA International, the Polish Development Fund (Polski Fundusz Rozwoju) and the IFM Global Infrastructure Fund on the financing of the acquisition of DCT Gdańsk, the largest container terminal in Poland.
  • Advised GIG (part of Macquarie Group) on the acquisition and refinancing of the 42 MW Kisielice onshore wind farm located in Poland from an entity owned by a renewable energy fund manager, Impax Asset Management.
  • Advised the Polish Development Fund S.A. (PFR) in connection with the implementation of the government financial support program for enterprises called “PFR Financial Shield for Small and Medium-Sized Enterprises”, following the outbreak of the Covid-19 pandemic.

Clifford Chance

With 'perfect industry know-how', the group at Clifford Chance excels in high-value financings in the form of consortium lending for Polish and domestic banks, refinancing deals, and debt restructuring. The department includes Grzegorz Namiotkiewicz, who is a leader in debt securities and securitisation projects. Andrzej Stosio's expertise in both banking and capital markets enables him to handle a variety of financings, refinancings and debt restructurings for financial institutions. Milosz Golab is well-versed in corporate finance. Counsel Irena Floras-Goode has a strong regulatory practice, and regularly advises Polish and foreign banks. In 2020, Grzegorz Abram departed to White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k..

Practice head(s):

Grzegorz Namiotkiewicz; Andrzej Stosio

Other key lawyers:

Miłosz Gołąb; Irena Floras-Goode

Testimonials

‘The team is very proactive and pragmatic. They always take the time to understand our institution and our needs.’

‘Grzegorz Namiotkiewicz is simply an ace. His expertise as well as his approach to clients and his negotiation skills leave nothing to be desired.’

‘Grzegorz Namiotkiewicz – professional with unique experience and knowledge in the banking sector’

‘Very professional and client-oriented team. Perfect industry know-how.’

Key clients

Bank Polska Kasa Opieki S.A., Caixabank S.A., Erste Group Bank AG, Industrial and Commercial Bank of China (Europe) S.A., ING Bank Śląski S.A., Intesa Sanpaolo S.p.A, Powszechna Kasa Oszczędności Bank Polski S.A., Sumitomo Mitsui Banking Corporation Bank EU AG

Santander Bank Polska S.A.

INEA S.A.

Iglotex S.A.

ING Bank Śląski S.A.

mBank S.A.

BNP Paribas Bank Polska S.A., Santander Bank Polska S.A.

European Investment Bank

Zakłady Farmaceutyczne „POLPHARMA” S.A.

Hoist Finance

Cerrad sp. z o.o.

Bank Gospodarstwa Krajowego, Bank Ochrony Środowiska S.A.

EPP Sp. z o.o., EPP Office – Park Rozwoju Sp. z o.o.

Work highlights

  • Advised a consortium of banks composed of EBRD, ING Bank Śląski, mBank and Santander Bank Polska in connection with a term and revolving facility in the aggregate amount of PLN 480 million granted to Polenergia to finance the construction of a 121 MW wind farm in Dębsk, which will take advantage of support under the auction system, as well as to finance the VAT costs.
  • Advised a consortium of domestic and international banks: Bank Polska Kasa Opieki S.A., Caixabank S.A., Erste Group Bank AG, Industrial and Commercial Bank of China (Europe) S.A., ING Bank Śląski S.A., Intesa Sanpaolo S.p.A, Powszechna Kasa Oszczędności Bank Polski S.A., and Sumitomo Mitsui Banking Corporation Bank EU AG on the conclusion of a credit facility agreement as part of the refinancing of the loans taken out by the LOTOS Group in the total amount of USD 0.5 billion.
  • Advised INEA, one of the leaders in an open-access fiber-optic network in Poland, on amending the existing credit facility agreement in order to increase the available financing by over 400 million PLN and on adjusting that agreement to the company’s investment plans.

Dentons

Dentons' banking and finance team is noted for handling financing transactions in Poland and across the CEE region. It has notable expertise in real estate finance, acquisition finance, project finance and corporate finance, as well as bond issuances and regulatory compliance. The group distinguishes itself in CEE cross-border portfolio financings originated in Warsaw, Munich and Vienna. The co-heads of the team in Warsaw are Mateusz Toczyski and Marcin Bartczak; the latter is a co-chair of the firm's European financial institutions regulatory team. Agnieszka Lipska, who made partner in April 2020, is a seasoned financial transactional lawyer focusing on the energy, heavy industry and manufacturing sectors. Corporate finance expert Bartosz Nojek also made partner. Counsel Tomasz Zwoliński has developed a niche in export finance, as well as the financing aspects of PPP deals. In March 2021, Mark Segall joined the group, having previously served as the head of the CEE banking practice at CMS Cameron McKenna Nabarro Olswang Pośniak i Bejm sp.k..

Practice head(s):

Mateusz Toczyski; Marcin Bartczak

Other key lawyers:

Agnieszka Lipska; Bartosz Nojek; Inga Dulska; Piotr Nerwiński; Tomasz Zwoliński; Krzysztof Kaźmierczyk

Testimonials

‘Bartosz Nojek and Agnieszka Lipska – client-oriented and active approach to transactions and cooperation.’

‘Very good team. One of the best practices in the market.’

‘Mateusz Toczyski is the partner who is doing an excellent job. ’

‘Banking and finance team at Dentons provide well-balanced and trustworthy and do-able solutions for complex matters unlike sometimes you may come across theoretical solutions provided by other law firms.’

‘Inga Dulska is a very thoughtful lawyer with a great mindset, devoted to the tasks assigned. She is highly commercial, is fully transparent and operates with a long-term client viewpoint. She anticipates the potential outcomes of the discussions/negotiations and properly mitigates them. Inga is a true exceptional expert ’

‘Dentons banking and finance team consists of highly skilled professionals who are experts in their respective fields ’

‘The whole team deserves to be praised’ 

‘Highly skilled but humble, Piotr Nerwinski and Jakub Walawski are outstanding lawyers.’

Key clients

EBRD

Enlight Renewable Energy

Qair

Akuo Energy

Erste Bank Group

mBank

Santander Bank Polska

ING Bank

BNP Paribas

HB Reavis

Work highlights

  • Advised Enlight Renewable Energy on a EUR 115 million financing granted by EBRD, Erste Group Bank and NLB Bank for the construction and operation of a 105 MW Selac wind farm in Kosovo
  • Advised HB Reavis on a EUR 162 million financing granted by a syndicate of four banks, Santander Bank Polska, Bank Pekao, PKP Bank Polski and BNP Paribas Bank Polska, for the construction of the Forest office campus in Warsaw, Poland, one of the biggest office projects currently being developed in Europe.
  • Advised COMSA S.A.U. and its main shareholder on a debt restructuring transaction and issue of new shares in Trakcja PRKiI S.A., one of the largest and most comprehensive financial restructuring programs recently implemented in construction companies in Poland, valued at over EUR 230 million.

Baker McKenzie Krzyżowski i Wspólnicy Sp.k.

Baker & McKenzie Krzyżowski i Wspólnicy Spółka Komandytowa is credited for its 'overall very high standard of services' in relation to the banking and finance offering. The group handles a broad range of transactions, as well as regulatory issues and financial services work. Core to the practice are real estate and energy financings, while acquisition finance and restructurings are also active for the team. On the regulatory front, the group advises financial institutions on compliance issues, increasingly in relation to e-finance. Team head Ireneusz Stolarski handles transactions, as well as banking regulatory work. Rafał Zakrzewski, who runs the firm's English desk, focuses on financial transactions across the CEE region governed by English law. Paweł Wajda is a key member of the regulatory group, assisting clients with compliance and representing them before administrative proceedings.

Practice head(s):

Ireneusz Stolarski

Other key lawyers:

Rafał Zakrzewski; Michał Głowacki; Paweł Wajda

Testimonials

Very good and researched advice, extremely responsive and available. Overall very high standard of services and legal advice reasonably priced.’

Rafal Zakrzewski is incredibly knowledgeable, with a vast transaction experience. He’s very business-oriented and will be able to think out of the box to solve deadlock situations. One of the best lawyers I have come across. He is also always level-headed even under extreme pressure and manages well difficult counterparties or negotiations, ensuring that the deals close.’

Key clients

Grupa LOTOS S.A.

PKN ORLEN S.A.

European Bank for Reconstruction and Development

PKO Bank Polski

Electrum sp. z o.o.

Insite Real Estate

Mashav Energia/ Potęgowo Mashav

Santander Bank Polska S.A.

BNP Paribas

Pekao SA.

Perwyn Advisors UK Limited

City of Warsaw

Work highlights

  • Acted for Grupa LOTOS on a flagship project of strategic importance for the Polish government in connection with Grupa Lotos’ investment into the project as a co-sponsor/investor and mezzanine financing lender in the development of project Polimery Police conducted by the special purpose vehicle PDH Polska S.A. The value of the whole project would exceed PLN 7 bln.
  • Advised PKN Orlen on a high-value cross-border deal involving Poland and the UK negotiated during difficult market conditions connected with PKN Orlen’s project of obtaining EUR 1.75 billion value, multi-currency, unsecured revolving credit in Euro for the refinancing of expiring credit facilities and ongoing service of commercial contracts.
  • Advised PKO Bank Polski on financing of the development of the prestigious Warsaw Unit skyscraper building in the heart of Warsaw. One of the flagship office projects in Warsaw developed by the leading Belgian developer Ghelamco and a complex cross-border deal.

Bird & Bird Szepietowski i wspólnicy sp. k.

The team at Bird & Bird Szepietowski i wspólnicy sp. k. demonstrates 'a strong proactive and pro-client attitude and business-oriented thinking'. It is set up to handle financial regulatory and fintech issues, as well as financing transactions. Leading the regulatory piece, Sławomir Szepietowski ('a real leader and business driver') advises financial institutions on corporate governance and regulatory compliance and has a strong reputation in the area of fintech. Szepietowski is supported by senior associate Marta Stanisławska, who is building a strong financial regulatory practice, with an increasing volume of instructions relating to EU directives. The transactional practice is led by counsel Maciej Georg, who focuses on energy and real estate finance transactions.

Practice head(s):

Sławomir Szepietowski

Other key lawyers:

Maciej Georg; Aleksandra Widziewicz; Marta Stanisławska; Olga Koszewska

Testimonials

‘I have worked with the team on several financing projects, and from my experience, I can say that they are always very well-prepared and extremely focused on the transaction. Even when the negotiations were tough, they always found the best solution. The lawyers were always available for me and my team, which is very important when conducting any transaction. I also value their commercial approach, and the fact that the deals are done by senior, experienced lawyers, not juniors/trainees, as is the case with some other law firms.’

‘I have worked with Olga Koszewska for many years now. She is a very hard-working and dedicated senior banking lawyer. I can always count on her legal knowledge and transactional experience. Olga is responsible and always identifies the best solutions. I also value her ability to immediately react and respond to clients’ needs. l truly like working with Olga, and would recommend her as one of the best client-focused transactional banking lawyers on the Polish market.’

‘Strong, proactive and pro-client attitude and business-oriented thinking, prioritization of tasks, understanding of business needs, negotiation skills’

‘Maciej Georg is a modest and hardworking lawyer. Always ready to deliver advice on the spot. ’

‘The team has unique expertise and experience as regards regulatory aspects of banking outsourcing and cloud computing. They do feel “digitalisation” of technology. ’

‘Very advanced knowledge and business approach to find solutions.’

‘Sławomir Szepietowski is a real leader and business driver’

Key clients

PolishAPI

Digital Gateways sp. z o.o.

mBank S.A.

Banca Farmafactoring S.p.A. Spółka Akcyjna Oddział w Polsce

Simmetrical.ai

Bank of China (Luxembourg) S.A./Bank of China Ltd.

mBank Hipoteczny S.A.

Bank Gospodarstwa Krajowego

ING Bank Śląski S.A.

DNB Bank Polska S.A.

European Bank for Reconstruction and Development

Energa S.A.

Kreos Capital

Marguerite

Mediocredito Italiano

Natixis S.A.

Obton A/S

Polskie Górnictwo Naftowe i Gazownictwo S.A.

Polski Koncern Naftowy Orlen S.A.

PKO Bank Polski S.A.

Provident Polska S.A.

Santander Leasing S.A.

Sberbank of Russia

Ulster Bank

Better Energy A/S

Santander Bank Polska S.A.

Bank Ochrony Środowiska S.A.

D-Raft S.A. (The Heart Warsaw)

Work highlights

  • Advised Bank of China (Luxembourg) S.A (Poland and Luxembourg branches) on a financing transaction for an amount exceeding EUR 120 million. The loan was partially used for refinancing the loans granted to two entities owning several immovable assets throughout Poland.
  • Advised mBank on the financing and refinancing transaction for an amount exceeding PLN 60 million for the construction of 28 solar farms located in north western Poland. The owners of farms are seven SPVs belonging to the Danish company Nordic Solar, which is also the owner of solar farms in Denmark, Great Britain, Belgium, Germany, France, Spain, Italy and Portugal.
  • Advised Banca Farmafactoring on launching the branch of a credit institution in Poland, offering saving products to the clients in many European countries.

CMS Cameron McKenna Nabarro Olswang Posniak i Bejm sp.k.

At CMS Cameron McKenna Nabarro Olswang Pośniak i Bejm sp.k., lawyers advise Polish and foreign banks and financial institutions, as well as property and investment funds on finance transactions across Poland and the CEE region. The group is also able to handle regulatory issues, with a strong practice advising banks on their compliance alongside the Polish authorities. The team is led by transactional financing expert Michał Mężykowski, who is additionally focused on debt restructurings. Jakub Podkowa is the name to note for advice on day-to-day banking operations. Jakub Wieczorek is also a key figure in the group. In March 2021, Mark Segall departed for Dentons. Marek Trzos-Rastawiecki and Ilona Fedurek have left the firm for ITMA Bartczak Dulska Trzos-Rastawiecki spółka jawna and SSW Pragmatic Solutions respectively.

Practice head(s):

Michał Mężykowski

Other key lawyers:

Jakub Podkowa; Jakub Wieczorek; Martyna Markiewicz

Testimonials

‘Wide experience with very good understanding of the commercial aspects of the transactions, full involvement in the projects, presenting/ proposing alternative solutions in case of any problems, delivering documents in time even if the deadlines are very tight.’

‘CMS – Responsive and easy to deal with. Trying to accommodate all parties points of view. Seems reasonably priced. Team is not small so may pursue various deals at the same time. ’

‘Michał Mężykowski: Listening to all parties’ requests and always trying to find amicable solutions that will work for everyone. Flexible. ’

‘It is a very solid real estate finance practice representing lenders. They are nice to work with and have a pretty good understanding of the market. ’

‘Jakub is a very sensible guy who knows how to manage his clients and remain intellectually independent. Therefore, negotiations with him are always productive and on merits. He is not a pushover though. He is very knowledgeable and likeable too. If I need to recommend a bank-side lawyer to my clients, he is my top choice.’

‘Strong business acumen, high client focus and efficient delivery.’

Key clients

Aareal Bank AG

Allianz Real Estate

EIB

EBRD

mBank S.A.

Santander

Bank BNP Paribas S.A.

Bank Gospodarstwa Krajowego

Bank Polska Kasa Opieki S.A. (Pekao)

PKO BP S.A.

Bank Millennium

Credit Agricole

Erste Group Bank AG

HSBC

HypoNoe

ING Bank Śląski S.A.

Raiffeisen Bank

Grupa Azoty

Bayerische Landesbank

Work highlights

  • Comprehensive legal advice to Grupa Azoty Polyolefins on obtaining USD 1.8 billion financing (in the form of debt financing and equity financing) for the implementation of Polimery Police project, including the construction of installations to produce propylene and polypropylene along with auxiliary installations. It was the largest chemical investment project in Poland and CEE.
  • Advising Bayerische Landesbank on the financing of the development of the wind farms in Poland with a total planned capacity of 51.8 MW.
  • Advising Allianz Real Estate on EUR 300 million refinancing of Posnania shopping centre located in Poznań, Poland.

DLA Piper

DLA Piper's 'business-oriented' finance, projects and restructuring group has outstanding expertise in the project finance arena, notably in relation to real estate financing projects. The group is also developing its securitisations practice, assisting clients with a variety of asset-backed securities agreements. The team is led by Mariusz Hyla, who is the go-to practitioner for real estate and asset finance, areas in which counsel Bartłomiej Palusiak is also active. Counsel Paweł Turek is noted for leverage, export, project and asset finance transactions. Counsel Katarzyna Wacławek advises borrowers on financing and refinancing projects.

Practice head(s):

Mariusz Hyla

Other key lawyers:

Bartłomiej Palusiak; Paweł Turek; Katarzyna Wacławek; Jakub Zienkiewicz; Anna Jarczok

Testimonials

‘Very business-oriented, fast, ready to work even over weekends, detailed analysis, not involving client in things that are purely legal, i.e. not business matters.’

‘Mariusz Hyla – knows the market very well, always available to advise’

Key clients

Aareal Bank

Accolade

Albaluna

Bank Gospodarstwa Krajowego (BGK)

Bank Millennium

Bank Ochrony Środowiska (BOŚ)

Bank Polska Kasa Opieki (Bank Pekao)

Berlin Hyp

BNP Paribas Bank Polska

Capital Park

Citigroup

Commerzbank

Corestate

Credit Swiss

Deutsche Pfandbriefbank (pbb)

DHB Bank

DZ Bank

Eiffel Investment Group

Elite Partners Capital

Erste Group Bank

European Bank for Reconstruction and Development (EBRD)

European Investment Bank (EIB)

Generali Group

Globalworth Poland Real Estate

Grupa PZU

Landesbank Hessen-Thüringen (Helaba)

HSBC

ING Bank

ING Bank Śląski

KGAL

ING Bank NV

Korporacja Ubezpieczeń Kredytów Eksportowych (KUKE)

Lidya

LoanMe

Marsh

mBank

NEPI Rockcastle Global Real Estate

Open Life

OX2

Panattoni

Permodalan Nasional Berhad

Polski Fundusz Rozwoju

Powszechna Kasa Oszczędności Bank Polski (PKO BP)

PKO Leasing (PKO BP Group)

Pekao Leasing (Pekao Group)

PKO Ubezpieczenia (PKO Insurance)

PKP Energetyka

Rev

Work highlights

  • Advising BGK on an export finance transaction, which included financing the delivery of 20 tippers trucks by the Polish tipper manufacturer Wielton.  Assisted the client in signing an agreement for the repurchase of receivables from an export contract concluded between Wielton and Binke, a company from Mali.
  • Advising PKO Leasing as the seller of receivables. Acted as the lead counsel responsible for structuring the transaction, drafting the documents, and holding the pen throughout the whole transaction.
  • Advising Trakcja,  the borrower and its subsidiaries on the financial restructuring of the whole group. The restructuring process took almost ten months and was divided into two main phases: (i) bridge financing and (ii) long-term financing. There were two main groups of creditors: up to 10 insurers and up to 10 banks.

Greenberg Traurig Grzesiak sp. k.

Greenberg Traurig Grzesiak sp. k.'s team has 'its ears close to the ground', advising borrowers, lenders and sponsors on the spectrum of debt financings, with the ability to call on the support of offices in New York and London for cross-border matters. The group has a stellar reputation for real estate financings, but it is also active in the areas of acquisition finance, bridge and mezzanine lending and financial restructurings. The department is led by Andrzej Wysokinski, who is a veteran of cross-border finance transactions. Aleksander Janiszewski specialises in debt financings and venture capital. Łukasz Pawlak is the name to note for banking regulatory work and often represents clients before the Polish Financial Supervision Authority.

Practice head(s):

Andrzej Wysokiński

Other key lawyers:

Jarosław Grzesiak; Lejb Fogelman; Aleksander Janiszewski; Łukasz Pawlak; Agnieszka Stankiewicz; Michał Bobrzyński

Testimonials

‘Well connected, has ears close to the ground – goes beyond the typical lawyer job in ensuring project progresses – combines legal and investment banking project management’

‘Lejb Fogelman – leading lawyer, consigliere and trusted advisor Jaroslaw Grzesiak – charismatic, relentless and passionate Pawel Piotrowski – emerging star in FIG M&A’

‘Depth of knowledge and experience in structured financing. Very good negotiation skills and fair approach to counterparty’

‘Partner-level depth in knowledge and experience in structured financing. Very good negotiation skills and fair approach to counterparty. Associates – very dedicated to project with focus to execute transaction. Fair approach to counterparty’

Key clients

Credit Agricole Bank

Cyfrowy Polsat

GLP

IAD Investments

K-Trust

mLeasing

Robyg

Tele-Fonika Kable

Benson Elliot

Work highlights

  • Advised Credit Agricole Bank (as agent and security agent) and other banks in the consortium in connection with their refinancing by new lenders.
  • Advised Tele-Fonika Kable on entering into a Credit Facilities Agreement with a consortium of Polish and international financial institutions, concerning the refinancing of the Group’s debt.
  • Advised Cyfrowy Polsat on the issue of series C green bonds with an aggregate nominal value of PLN 1 billion which was the first ever corporate bonds issue in Poland.

Hogan Lovells (Warszawa) LLP

Hogan Lovells (Warszawa) LLP's team has substantial expertise in mortgage bond issuances and securitisations, as well as real estate, energy and project finance. The group also advises its banking and financial institutional clients on debt restructurings. Piotr Zawiślak, who heads up the banking and finance team, focuses on the transactional side of the practice. Senior associate Mateusz Dereszyński is building a solid foundation in financing transactions, including in relation to syndicated lending and mezzanine finance. Rafał Grochowski joined Domanski Zakrzewski Palinka.

Practice head(s):

Piotr Zawislak

Other key lawyers:

Mateusz Dereszyński

Key clients

Bank Polska Kasa Opieki S.A.

Bank Gospodarstwa Krajowego

Alior Bank S.A.

mBank S.A

BNP Paribas Bank Polska S.A.

Powszechna Kasa Oszczędności Bank Polski S.A.

DnB Bank Polska S.A.

ING Bank Śląski

Bank Handlowy w Warszawie S.A. (Citigroup)

Berlin Hyp AG

Work highlights

  • Advised Metro Warszawskie Sp. z o. o. (the Warsaw Metro Company) on obtaining credit facilities for new infrastructure and purchase of new environment-friendly rolling stock, as well as on negotiation of a new public service agreement.
  • Advised Tramwaje Warszawskie sp. z o.o. (the Warsaw Tram Company) on obtaining credit facilities for refinancing and new investments, as well as on negotiation of the public service agreement.
  • Advised on the loan facility to Fabryka Wody sp. z o.o. granted by banks: Bank Gospodarstwa Krajowego, Powszechna Kasa Oszczędności Bank Polski S.A., Bank Polska Kasa Opieki S.A..

Linklaters

Linklaters' team is noted for having 'an in-depth knowledge of both Polish and European regulations of financial sector', advising borrowers, financial institutions and financial sponsors on their activities in Poland. The group is increasingly called on to advise funds and other direct lending institutions on their move into the loans market. On the regulatory front, the team has built strong expertise in the fintech sector. Jarosław Miller leads the department, with a focus on investment banking law. English-qualified counsel Adrian Horne is well-placed to advise financial institutions on cross-border finance transactions.

Practice head(s):

Jarosław Miller

Other key lawyers:

Adrian Horne; Marta Domino; Joanna Gawlicka

Testimonials

‘An in-depth knowledge of both Polish and European regulations of the financial sector. Diligent and focused on details. Good mix of partners, senior lawyers and younger lawyers.’

‘Joanna Gawlicka – in-depth knowledge of law, practical business-oriented approach, analytical thinking.’

Key clients

Bank Pekao S.A.

European Bank for Reconstruction and Development

BNP Paribas Bank Polska S.A.

Tauron Polska Energia S.A.

MOL

ECE European Prime Shopping Centre Fund II

EPP N.V.

Powszechna Kasa Oszczędności Bank Polski S.A.

ING Bank Śląski S.A.

Santander Bank Polska S.A.

Work highlights

  • Advised a consortium of banks on arranging a revolving credit facility of up to PLN 10 billion for Polskie Górnictwo Naftowe i Gazownictwo S.A., one of the largest companies in Poland, the largest Polish oil and gas exploration and production company. The proceeds under the facility will be used to finance operations of PGNiG, as well as its investment plans.
  • Advised TAURON Polska Energia S.A., the largest Polish energy supplier, on its new sustainability-linked debt package comprising three corporate lending financings for the aggregate amount of PLN 1.75 billion. The package strengthens the financial stability of the group and, at the same time, supports the group’s investments in the renewable energy sector and departure from coal.
  • Advised a consortium of financial institutions on arranging a PLN 760 million financing for Jastrzębska Spółka Węglowa S.A., a leading European producer of coaking coal. Proceeds of the facilities will be used for financing of general corporate purposes, borrower’s investments and M&A plans.

Norton Rose Fulbright

Norton Rose Fulbright's team is focused on financing transactions, both for foreign and domestic lenders and borrowers. Together with its more traditional financing offering, the group is also known for trade and commodity financing deals, as well as mezzanine loans, bonds and quasi-debt instruments. Grzegorz Dyczkowski leads the group, which includes real estate, energy and infrastructure finance expert Tomasz Rogalski.

Practice head(s):

Grzegorz Dyczkowski

Other key lawyers:

Tomasz Rogalski; Marta Kawecka; Jacek Smardzewski; Joanna Braciszewska-Szarapa; Krzysztof Gorzelak; Daniel Popek; Aleksander Haleniuk

Testimonials

‘We were pleased to work with them due to their professional skills, high dedication of the team to close smoothly the transaction, ability to sufficiently address our expectations in the documentation and full availability of the main team throughout the transaction period. They were very supportive in negotiations and finding the amicable solutions, acceptable to all the parties.’

Key clients

BNP Paribas Bank Polska S.A.

Bank Gospodarstwa Krajowego

Bank Polska Kasa Opieki S.A.

Bank of China – Polish branch

Commerzbank Group (local entity: mBank)

HSBC Group

Industrial and Commercial Bank of China – Polish Branch

ING Group (local entity: ING Bank Śląski)

LOT Polish Airlines

PKO Bank Polski S.A.

Raiffeisen Bank Polska S.A.

Santander Bank Polska S.A.

Work highlights

  • Advised a consortium of 10 major international banks on the PLN 5.5 billion (US$ 1.4 billion) financing for Gaz-System – Poland’s most important gas transmission operator.
  • Advised a consortium of 12 lenders on the complex financing arrangements for Grupa Vectra relating to its acquisition of Multimedia Polska S.A.
  • Advised a consortium of mBank and Santander on the project finance transaction relating to the development of 128 photovoltaic farms sponsored by R.Power.

Soltysinski Kawecki & Szlezak

Soltysinski Kawecki & Szlezak's 'smart and positive' team has a strong focus on financial regulatory work, but it also has a highly regarded transactional practice. The regulatory team has a deep specialism in the fintech sector, and is able to work closely with the firm's IP and IT departments. The group is also heavily involved in anti-money laundering projects. Financial sector M&A is another area of focus, and lawyers have significant experience in group reorganisations and acquisitions. Team head Marcin Olechowski focuses on regulatory work, while Tomasz Kanski is a transactional finance lawyer with broad experience in acquisition financings. Wojciech Iwański , who is based in Katowice, is an expert in banking regulations, particularly for payment and brokerage services.

Practice head(s):

Marcin Olechowski

Other key lawyers:

Tomasz Kański; Wojciech Iwański; Borys Sawicki; Mateusz Blocher; Witold Kurek

Testimonials

‘SK&S team has a very strong position in banking regulatory sector. Their team is definitely one of the best in the Polish market in that area. It is actively involved in works of the Polish Banking Association which allows them to track the practice and provide the best value advice.’

‘I have worked with Wojciech Iwański and Mateusz Blocher for more than a decade. They deliver marvellous products, from formal opinions to ad hoc advice. Their understanding of the regulatory framework and the regulator itself is great. What may be surprising after so many years is that they still have the enthusiasm to deal with regulatory issues and seem to enjoy it.’

‘Excellent specialization in the single matters of law, and excellent skills of summarizing at the highest levels of the partners. Very fast in understanding the problems and in delivering answers, counselling and solutions.’

‘Smart, positive, multi-cultural and multi-tasking, capable of facing any level of problem with the same level of application. Great job as usual received by Marcin Olechowski’

Key clients

Związek Banków Polskich (Polish Bank Association)

Goldman Sachs

mBank S.A. (Commerzbank group)

Mastercard Europe

Profi Credit Polska S.A.

Warburg Pincus

FCA Bank S.p.A. Polish Branch / Leasys Polska

Bank Handlowy w Warszawie S.A. (Citi group)

Santander Bank Polska S.A.

Bank Millennium S.A.

Alior Bank S.A.

Eurocash

2BG Sp. z o.o.

Bank Pocztowy

Cinkciarz.pl

MUFG Bank (Europe) NV SA

Volkswagen Bank

Work highlights

  • Official advisors to the Banking Law Council of the Polish Bank Association in connection with (i) the implementation of PSD2 in Poland and (ii) use of biometrics in financial sector.
  • Assisting Goldman Sachs with handling of establishment and operational kick-off of new Polish branch office of German-based bank and closing of the old branch of UK based investment firm).
  • Advised six banks, including mBank and Citi Bank Handlowy, on the implementation of PSD2.

Deloitte Legal, Ostrowski, Gizicki i Wspólnicy sp.k.

In October 2020, Deloitte Legal, Ostrowski, Gizicki i Wspólnicy sp.k. hired a large part of White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.'s banking team, including Tomasz Ostrowski (who took over as managing partner) and transactional specialist Aneta Urban. This followed the arrival of Mateusz Ordyk from PwC Legal Zelaznicki sp.k. at the beginning of 2020, boosting the firm's coverage of fintech regulatory issues. The firm is well-known for undertaking high-level regulatory projects for financial institutions, but it is also strong on the transactional side, where it handles leasing matters, real estate finance, corporate finance, acquisition finance and asset finance transactions. The team is led by 'calm and business-oriented' Zbigniew Korba, who handles both regulatory and transactional work.

Practice head(s):

Zbigniew Korba

Other key lawyers:

Agnieszka Ziółek; Mateusz Ordyk; Tomasz Ostrowski; Aneta Urban; Katarzyna Jakubiak

Testimonials

‘Zbigniew Korba is well known for his expertise in banking and finance and general corporate area. Calm, business-oriented, always looking for solving any issues having in mind interest of all the parties involved.’

Key clients

PKO BP S.A.

Santander Consumer Bank S.A.

Caterpillar Financial Services Sp. z o.o.

Alior Bank S.A.

ING Finance Sp. z o.o.

TUW Polski Zakład Ubezpieczeń Wzajemnych

mBank Hipoteczny S.A.

Svenska Handelsbanken AB

Raiffeisen Bank International AG SA, Branch in Poland

Prime Kapital

Mercedes Benz Bank Polska S.A.

Toyota Bank S.A.

FCE Bank Oddział w Polsce

Bank of China (Luxembourg) S.A. Poland Branch

Bank Handlowy w Warszawie S.A. (CitiBank)

Credit Agricole Bank Polska S.A.

Deutsche Bank Polska S.A.

Work highlights

  • Advised a leading Polish bank on setting up of a bank’s branch in Slovakia.
  • Advised a Germany-based bank on setting up a non-banking financing company in Poland, including first on the Polish market voluntary liquidation of the licensed bank.

Domanski Zakrzewski Palinka

Domanski Zakrzewski Palinka's financial and capital markets team is most noted for its expertise in securitisations. On the transactional side, the group advises financial institutions on debt financing and restructurings, project finance, equity financing, financial restructuring of capital groups and financial asset acquisitions. The group is also well-versed in financial regulations. Leading the team is Magdalena Skowronska, whose regulatory expertise lends itself to financial institutional M&A. Senior associate Tomasz Kalicki is a securities expert. Rafał Grochowski joined from Hogan Lovells (Warszawa) LLP.

Practice head(s):

Magdalena Skowrońska

Other key lawyers:

Rafał Grochowski; Andrzej Foltyn; Tomasz Kalicki

Key clients

Getin Noble Bank S.A.

ERGIS S.A. / Finergis Investments Limited

Idea Bank S.A.

Eiffel Investment Group

Survitec Group

Barclays Bank

Calibra

Work highlights

  • Regulatory advice to Idea Bank on BRRD-related issues, which is crucial for the continuity of the bank’s business activity.
  • Legal advice on restructuring the Survitec Capital Group’s debt. This was a complex debt restructuring project carried out with the consent of all the creditors and covering numerous jurisdictions, allowing the existing debt servicing conditions to be changed due to the group’s deteriorating financial situation
  • Advised Finergis Investments Ltd. on a public tender offer for the sale of shares in ERGIS S.A. The tender offer concerned the acquisition of almost 20.1 million shares representing 53.15% of ERGIS S.A.’s share capital. As a result of the transaction, the purchaser acquired 17.2 million of the Company’s shares listed on the Warsaw Stock Exchange.

Gide Loyrette Nouel

Gide Loyrette Nouel provides 'high-level legal support in both local and cross-border assignments', advising a mixture of borrowers and lenders on the spectrum of financing deals. Corporate and real estate transactions are a particular area of activity for the firm, which also handles leasing, acquisition finance and leveraged buyouts. The department is led by Paweł Grześkowiak, an expert in structured and secured lending. Grześkowiak works closely with associate Mateusz Gronau, who 'knows his way around often complicated legal structures and always delivers'. Fellow associate Marta Karmińska is a tax adviser who often supports the team on structured finance deals.

Practice head(s):

Paweł Grześkowiak

Other key lawyers:

Mateusz Gronau; Marta Karmińska

Testimonials

‘Personal commitment, understanding of needs, pro-active approach’

‘Gide understands our goals and needs and are able to quickly and efficiently meet them. They are highly recommendable in general banking & finance related matters including secured financing transactions. My go-to lawyer is Mateusz Gronau with whom I work on various projects in the last few years and now.’

‘Mateusz Gronau provides excellent service. ’

‘Very good cooperation abilities – very good understanding of the clients – oriented on targets’

‘High engagement into project – very good availability – very supportive with the French-speaking co-operators – good organization’

‘Very well organized and knowledgeable team providing high-level legal support in both local and cross-border assignments.’

‘We have been working with Mateusz Gronau for the last few years who is active on our most important assignments and supervises Gide B&F team. He knows his way around often complicated legal structures and always delivers. We really appreciate his expert knowledge and always accurate advice.’

Key clients

KGHM Polska Miedź

Sierra Gorda SCM

“PEKAO” Leasing

Santander Bank

Orion Engineered Carbons

mBank

BNP Paribas Bank Polska

SGI Sp. z o.o

mLeasing

Bank Gospodarstwa Krajowego

Credit Agricole Bank Polska S.A.

Kochanski & Partners

Kochanski & Partners' financial services team handles a variety of transactions (including real estate, acquisition and asset financings), refinancing issues and financial restructuring. The group is also regularly instructed by banks on regulatory issues, with an increasing focus on fintech. In 2020, the banking regulatory practice was boosted by the arrival of counsel Artur Bilski from Alior Bank, adding expertise in European regulations, anti-money laundering issues and consumer protection law. The group is led by financial transactional lawyer Olgierd Świerzewski, who advises foreign investors on their business in Poland, as well as domestic banks and financial institutions.

Practice head(s):

Olgierd Świerzewski

Other key lawyers:

Daniel Kozłowski; Artur Bilski; Anna Paterak-Konon; Karina Fałat; Maciej Kuranc

Testimonials

‘Kochanski & Partners offers high-quality services helping financial institutions migrate to the cloud in a way which is compliant to Polish regulations (recently published). They have expertise and experience in this domain, which is not common on the market. They have skilled people who went through difficult and complex implementations successfully.’

‘My partner from K&P, Daniel Kozlowski displayed broad knowledge about cloud in financial sector, also from the practice. He is a great “collaborator” and often offers lectures and acts as keynote speaker for financial sector events, in order to share the knowledge with the market. He demonstrated creativity and out of the box thinking, finding answers and solutions to difficult matters. ’

‘Speed of action and response’

Key clients

AccorInvest Group SA

Oxenwood Real Estate (UK)

Griffin Real Estate (SPV companies)

Polish Bank Association

Global Primex sp. z o.o.

Dafi PRO S.A. / FORMASTER S.A.

LVS Brokers sp. z o. o.

Biuro Informacji Kredytowej (Credit Information Bureau)

Work highlights

  • Advised AccorInvest Group SA on the acquisition of Orbis S.A. – a Polish hotel chain, from Accor S.A. and Accor Polska – the largest real estate transaction in Poland in 2019 and 2020.
  • Advised Oxenwood Real Estate (UK) on the acquisition of the DHL logistics centre located in Radzymin, 30 km from Warsaw.
  • Advised Griffin Real Estate as the borrower on a restructuring process of the refinancing of an A-class office building in Warsaw.

Rymarz Zdort

Rymarz Zdort's core banking and finance team remains in place, following the Polish firm's spin-off from Weil, Gotshal & Manges LLP in 2020. The group has significant experience of advising Polish and international clients (borrowers, sponsors and issuers) on the Polish aspects of financing deals. Of particular note, the group is often instructed in bilateral and syndicated lending transactions. Jointly leading the group are Zofia Frydrychowicz and Marcin Iwaniszyn. Counsel Jakub Rachwol has a growing acquisition, corporate and project finance practice.

Practice head(s):

Zofia Frydrychowicz; Marcin Iwaniszyn

Other key lawyers:

Jakub Rachwol

Key clients

Santander Bank Polska S.A.

Vectra S.A.

Mabion S.A.

CIECH S.A.

OPTeam S.A.

Aberdeen Standard Investments

Mid Europa Partners

Innova Capital

Diagnostyka sp. z o.o.

Eurocash S.A.

Work highlights

  • Advised Santander Bank Polska S.A. on a PLN 5.3 billion financing in connection with a tender offer launched by AccorInvest for 100% of the shares in Orbis.
  • Advised Vectra group in connection with the takeover of Multimedia Polska S.A., including in relation to financing for the acquisition of the shares in Multimedia, extended by a consortium of Polish and international financial institutions, as well as the refinancing of the existing indebtedness of the Vectra and Multimedia groups.
  • Advised Mabion S.A., a Polish biotechnology company, in connection with a EUR 30 million loan from the European Investment Bank (EIB) to fund the company’s development activity.

Wardynski & Partners

Wardynski & Partners has a well-developed banking and finance practice weighted towards structured finance transactions and debt restructuring. The firm is often called upon as Polish counsel on cross-border matters and is able to draw on significant capital markets expertise in securitisation transactions. On the regulatory front, the fintech team is increasingly active in relation to payment services and consumer finance issues. The department is jointly led by Łukasz Szegda, who focuses on finance transactions, and fintech head Krzysztof WojdyłoDaniel Smarduch handles securitisations, as well as project and acquisition finance transactions, and debt portfolio matters.

Practice head(s):

Łukasz Szegda; Krzysztof Wojdyło

Other key lawyers:

Daniel Smarduch; Mateusz Tusznio

Testimonials

‘Advocate Daniel Smarduch – very high competence, excellent communication skills, reliability, accuracy and punctuality in delivering the ordered services. High level of empathy.’

‘100% professionalism, experience and lack of defects typical of large international law firms. For the Wardyński team, I am not one of many clients, but I always feel that I am the most important.’

‘Professional approach, quality and available at any time of the day with eyes on the target’

‘We have worked closely with Mateusz Tusznio and Łukasz Szegda on a number of transactions and we recommend any other law firm to reach out to Wardynski & Partners on any Polish law matter. They work efficiently, professionally and with a quality mindset.’

‘The banking and finance team is very dynamic and creative. They regularly propose out-of-the-box solutions that simplify entire transaction structure. What I appreciate about the lawyers from this team is that they care about perfect timing and achieving goals.’

Łukasz Szegda, head of the banking and finance team, brilliant lawyer with deep knowledge of banking sector and local market. He is very dynamic and pragmatic. He focuses on key business issues. His calmness and composure allowed us to “save” difficult negotiations several times.’

‘The team is very responsive, technically astute and pragmatic. They devised innovative solutions to help deliver a desirable result for our common client’

‘Mateusz Tusznio was fantastic to work with. Very responsive and pragmatic. He took on a problem-solving role which was greatly appreciated by our common client. ’

Key clients

Santander Bank Polska

ING Bank

Bank Pekao

BNP Paribas Bank Polska

Klarna Bank

EOS

Profi Credit Polska

Immobel

Fortress

Allegro Pay

Elavon Financial Services

Stripe

Zrzutka.pl

Balbec Capital LP

Lidya Holding

Work highlights

  • Acting for a consortium of 4 banks, Bank Polska Kasa Opieki S.A., ING Bank Śląski S.A., Credit Agricole Bank Polska S.A. and Bank Millennium S.A., in connection with complex debt restructuring of a food production group.
  • Advised an investors’ agent and arranger, Fortress Investment Group (UK), on complex securitisation programme for consumer loans granted by a non-banking loan provider based on actual sale of receivables to a foreign SPV financing the acquisitions by issuing notes to the investors.
  • Advised Allegro Pay on launching of FinTech services by the largest online marketplace in Poland.

White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.

A large part of White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k. team, including former practice head Tomasz Ostrowski, left for Deloitte Legal, Ostrowski, Gizicki i Wspólnicy sp.k. in October 2020. The firm has made a number of key hires since then, taking on a new department head in the shape of Grzegorz Abram and more junior lawyers including Paweł Zagórski from Clifford Chance in November 2020. Magdalena Kalińska arrived at the same time from Dentons and has experience in real estate, acquisition and project financing.

Practice head(s):

Grzegorz Abram

Other key lawyers:

Paweł Zagórski; Magdalena Kalińska

Testimonials

‘Flexibility and ability to act quickly, very comprehensive knowledge.’

Key clients

Santander Bank Polska S.A.

Bank Polska Kasa Opieki S.A. (Bank Pekao S.A)

Bank Gospodarstwa Krajowego

mBank S.A.

BNP Paribas Bank Polska S.A.

Landesbank Hessen-Thüringen (Helaba)

Berlin Hyp AG

Ghelamco

Deutsche Hypothekenbank AG

Panattoni Europe

WKB Wiercinski, Kwiecinski, Baehr

WKB Wiercinski, Kwiecinski, Baehr's banking and finance department is well-integrated into the firm's wider transactional offering. The group is experienced in project finance, particularly energy-related, financial restructuring, lending and high-yield bond issuances. The group is also instructed on non-performing loan portfolio transactions. An area of growing activity for the team is leveraged buyouts in the payment services sector. Practice head Marcin Smolarek has a strong background in project finance. Counsel Michał Kalicki is experienced in a wide variety of finance transactions, as well as refinancing deals.

Practice head(s):

Marcin Smolarek

Other key lawyers:

Michał Kalicki; Piotr Grabarczyk

Testimonials

‘Extremely fruitful and reliable cooperation between my company and the WKB law firm has been going on for years. The objectives and scope of legal advisory tasks related with planned (and currently finalized) restructuring of the company. The WKB team is a conglomerate of experts with a total of comprehensive and interdisciplinary competences and know-how – everything that a client can expect and need in one place, with one partner – WKB! This organization is perfectly organized, and lawyers are clearly divided into tasks according to the areas of law.

‘The people with whom my company cooperates are distinguished by honest, loyal, friendly, cordial, reliable, expert, timely, result-oriented and meeting the client’s needs, at any time, There are no issues that cannot be settled. people undertaking a comprehensive problem; People with a global view, a broad perspective and very analytical! A team focused on results, and at the same time extremely friendly and supportive to the client.

‘A team of lawyers which are strong across all levels having an in-depth legal knowledge coupled with common sense and a pragmatic approach. WKB is responsive and outcomes-focused. WKB has the ability to turn work around quickly, provide practical and commercial advice and are able to engage with the business well (and not just legal). Attention to detail is first class as well as communication and contact. Very intuitive team with an ability to read what the business might need next or assist with next steps to facilitate a transaction/project.’

We had a chance to work with Marcin Smolarek, who leads the Banking and finance department. Mr. Smolarek is supporting us on a very complicated non-recourse transaction, seems not only to be highly qualified in the non-recourse finance issues, but also good understanding of business and ability to promote and execute a highly complicated transaction in a manner the serves best the interest of us as his client.

Key clients

Powszechna Kasa Oszczędności Bank Polski S.A. (PKO BP)

Bank Polska Kasa Opieki S.A.

mBank S.A.

Bank Gospodarstwa Krajowego (BGK)

mBank Hipoteczny S.A.

Siemens Finance

Polskie ePłatności S.A.

Accolade

ING Lease Polska (ING Group leasing company)

ING Bank Śląski S.A.

BNP Paribas Bank Polska S.A.

Fiserv Inc.

Barter

Work highlights

  • Advised Fiserv Inc. in relation to acquisition thereby of 100% of the shares in First Data Corporation, Fiserv Inc. also indirectly to acquire 100% of the shares in First Data Polska S.A., Poland’s largest acquirer of payment cards.
  • Assisted Polskie ePłatności, one of the leaders in the domestic cashless payment market, with the acquisition of 100% of the shares in Topcard Sp. z o.o.

PwC Legal Zelaznicki sp.k.

PwC Legal Zelaznicki sp.k.'s financial services department is highly recommended by clients for its expertise in regulatory matters, notably the implementation of EU law in financial and capital markets, in addition to fintech regulations. The group acts as lead external adviser to the Polish Banking Association, exemplifying the team's expertise in banking regulation. Leading the group is Aleksandra Bańkowska, a regulatory lawyer with experience of the establishment of banks in Poland, transformation of banks into credit institutions, as well as banking M&A. Counsel Łukasz Łyczko is fast-becoming an expert in the implementation of EU directives, payment services and licensing procedures before the Polish FSA.

Practice head(s):

Aleksandra Bańkowska

Other key lawyers:

Łukasz Łyczko; Magda Kazana-Jaroniec; Tomasz Fus; Konrad Frąckowiak

Testimonials

‘PwC Legal team has great experience in regulatory matters. They have broad knowledge on how the other banks approach the implementation of EBA or EU regulation in Poland. This makes their knowledge unique. They are always able to suggest a good solution which was verified on the market. Their team is their strength. The lawyers that I have cooperated with were always up to date with the latest regulations and interpretations and what is more they have already knew how to apply it to our Bank. It must be mentioned that PwC Legal lawyers are heavily engaged in industry and policymaking work. They were appointed as only legal experts for Polish Banking Association in outsourcing matters. The work they have done with all the market participants is remarkable. It should be stressed that the practice that they have established with the Polish Banking Association will be used by Polish banks as a golden standard in outsourcing for upcoming years. This makes the PwC Legal team as the number one team in regulatory matters connected to outsourcing. ’

‘PwC Legal lawyers have both great knowledge and excellent understanding of the market. Thanks to their superb business acumen, they provide their clients with practical and approachable solutions. The Banking and Finance team is especially strong on implementing EU Regulation, outsourcing and cloud computing matters. They have advised many market players on these issues (including EBA Guidelines, PSD2, AMLV etc.). Seeking advice in this area, I recommend them as the very best choice.

‘I would like to distinguish Aleksandra Bańkowska and Łukasz Łyczko. Both of them have excellent legal knowledge and insight into financial regulations. The Polish banking market recognizes them as experts in regulatory matters ’

‘PwC Legal lawyers are highly skilled practitioners, who always back their advice with profound legal authority. They always manage to provide detailed guidance with a pragmatic, user-friendly approach.’

Aleksandra provides a very high standard of work

‘They are ready to work as “in-house” lawyers, meaning with full understanding of the business and “tailor-made” drafting of the agreements. Also cooperation during the work on a project is very good.’

Key clients

Alior Bank S.A.

mBank S.A.

Bank BPH S.A.

Polish Bank Association

Facebook Poland sp. z o.o.

Work highlights

  • Advising Alior Bank S.A. on the implementation of the fallback solutions into client’s documentation with regards to Regulation (EU) 2016/1011 on indicators used as benchmarks in financial instruments and financial contracts or to measure the performance or investment funds (BMR).
  • Supported mBank on the process of implementing the EBA Guidelines on outsourcing. The consultancy consisted of adapting the bank’s internal regulations to the requirements of the EBA Guidelines on the implementation of the outsourcing policy.
  • Appointed as the lead external experts for the outsourcing working group on the implementation of the EBA Guidelines on outsourcing (EBA Guidelines).

Schoenherr Stangl sp.k.

Schoenherr Stangl sp.k.'s banking, finance and capital markets group is known for its 'responsive and coordinated approach across various jurisdictions', leveraging its office network across the CEE region. It acts for an impressive array of financial institutions on project finance, structured finance and acquisition finance transactions, among others. The 'pragmaticPaweł Halwa, who leads the group, is knowledgeable about structured finance, securities offerings and debt restructuring. Marcin Antczak is a specialist in project finance and acquisition finance.

Practice head(s):

Paweł Halwa

Other key lawyers:

Marcin Antczak; Daniel Radwański; Paula Weronika Kapica

Testimonials

‘Very good and solid team, experienced and professional.’

‘Efficient and time responsive. Also good quality overall’

‘Pawel Halwa and Weronika Kapica are excellent’

‘Very attentive, responsive and coordinated approach across various jurisdictions. ’

‘Very responsive approach which helped pull together a deal in a short amount of time and in a coordinated manner.’

‘Hardworking and responsive! ’

‘Schoenherr’s banking and capital market practice in Poland is outstanding in this jurisdiction and highly recommendable.’

‘Pawel Halwa as lead partner and his team are pragmatic, always available and provide great advise in all capital markets and finance matters.’

Key clients

Morgan Stanley Bank

Deutsche Bank AG, Commerzbank AG, HSBC Bank

Deutsche Private Equity Management III GmbH

Bayerische Landesbank

ABL Technic

Deutsche Beteiligungs AG, Cartonplast Group

Schur Flexibles

Societe Generale

ING BELGIUM NV/SA

Tarkett

Work highlights

  • Advised Societe Generale, London Branch in transaction relating refinancing of acquisition of a portfolio consisting of 20 SPVs operating logistic centers in Poland, as well as a number of SPVs in other EU countries valued EUR 50m.
  • Advised Schur Flexibles GmbH as borrower on the EUR 300m senior financing by a group of lenders with Société Générale and Morgan Stanley acting as mandated lead arrangers.
  • Acted as Polish counsel to the Initial Purchasers in relation to an offering of EUR 350m Senior Secured Fixed Rate Notes due 2027, and EUR 200m Senior Secured Floating Rate Notes due 2026, by Wepa Hygieneprodukte GmbH.

Squire Patton Boggs Krześniak sp.k.

The financial services practice at Squire Patton Boggs Krześniak sp.k. advises multinational companies, banks, financial institutions and private equity funds on their transactions and financial structuring issues. The group is most noted for its strengths in the project finance arena, but it is well-versed in other cross-border finance transactions, where it often acts as Polish counsel to foreign clients. Team head Peter Swiecicki has significant experience of high-value infrastructure finance transactions. Senior associate Małgorzata Olech, who is dual New York and Polish-qualified, is the name to note for cross-border transactions, where she acts for borrowers and lending institutions.

Practice head(s):

Peter Swiecicki

Other key lawyers:

Małgorzata Olech

Key clients

InterHealth Canada Limited

Enerco and Invenergy (and their joint venture project companies)

KAEFER Isoliertechnik GmbH & Co. Kommanditgesellschaft

Wonga Worldwide Limited, in administration

CNG Holdings / Axcess Financial

PZU

Work highlights

  • Advising the borrower InterHealth Canada on its PPP healthcare project in Poland (Zywiec Hospital) – a landmark transaction in Poland.
  • Advised Wonga Worldwide, the selling shareholder on an agreement to acquire all shares in wonga.pl sp. z o.o. by KRUK SA. Deal value: PLN 97.100,000.
  • Advised CNG Holdings  on the sale of its Polish consumer loan lender, Axcess Financial Poland, to E-Kancelaria

SSW Pragmatic Solutions

SSW Pragmatic Solutions has a 'young, dynamic and experienced team', which advises Polish and international lenders on all aspects of their transactions, including debt restructuring. The group is supplemented by capital markets experts and is also able to draw on tax advisory expertise within the firm. Leading the team is co-founding partner Wojciech Szczepaniak, who has a strong track-record in project finance. Capital markets expert Szymon Okoń is known for his regulatory expertise. Senior associate Tomasz Kwaśniewski is increasingly well-regarded for financing transactions and is able to draw on experience gained working in the banking regulations department of the Polish financial supervision authority.

Practice head(s):

Wojciech Szczepaniak

Other key lawyers:

Szymon Okoń; Sebastian Ponikowski; Marek Wędrychowski; Tomasz Kwaśniewski

Testimonials

‘SSW is a professional, flexible and responsive law firm. Good and open communication. Trying to anticipate their clients’ potential needs, issues etc. They offer good advise and value for money. ’

‘I worked mainly with Szymon Okoń and Tomasz Kwaśniewski. Young and dynamic team. Apart from the professionalism and responsiveness they were able to manoeuvre well in a complex transaction and manage the process well despite challenging and not too well organized team on the other side of the table/transaction.’

‘Young, dynamic and experienced team. Participates in both local and international transactions. ’

‘Szymon Okon and Tomasz Kwasniewski are the people we work and contact most often. Both are open-minded, flexible and what is relevant they are extremely well connected. This proves the ability not only to network but also confirms the proper reputation.’

‘The lawyers have a lot of experience, are very easy to talk to and when you have a problem it’s easy to find a solution.’

‘Our company cooperates with SSW Solutions in the field of legal services and advice and in some aspects of accounting services.

‘Wide range of experts. Solutions focus.’

Key clients

Polenergia S.A.

Aldesa Group

BPM Capital

AION S.A.

Stelmet S.A.

Alior Bank S.A.

MobileWeb Pro Sp. z o.o.

Krynica Vitamin S.A.

Bioeton Group

Impexmetal S.A.

Boryszew S.A.

Wojciech Gurgul, Paweł Gurgul

Marie Brizard Wine & Spirits Group

Europa Systems SPV

Rank Progress S.A.

Paged S.A.

GetBack S.A.

Eurocent S.A.

Vantage Development S.A.

Netmedia S.A.

Larq S.A.

Unilink S.A.

Browar Kościerzyna sp. z o.o.

Investments Funds managed by Credit Value Investments

VOX capital group

Santander Bank Polska (formerly Bank Zachodni WBK S.A. )

wpd europe

Work highlights

  • Advises four lenders on restructuring their bond exposures towards Work Service capital group.
  • Advised the Aldesa group on negotiating a facility agreement and a package of finance documents with BNP Paribas Bank Polska.
  • Advised BPM Capital on granting mezzanine finance to ZOO Factory and its CEO for the purposes of LMBO

Wolf Theiss

Wolf Theiss' lawyers are particularly focused on real estate and export finance transactions, as well as acquisition finance and financial restructuring. The firm draws on its office network across central and eastern Europe to provide a wide range of cross-border services. The group has significant experience of advising foreign and domestic property companies on the financing of their portfolios. The team, which is led by real estate finance expert Przemek Kozdój, includes restructuring specialist Lech Giliciński.

Practice head(s):

Przemek Kozdój

Other key lawyers:

Lech Giliciński; Stefan Feliniak; Michał Kulig

Testimonials

‘Wolf Theiss’ team is very dedicated to their work. They are very business-minded and focused on commercial issues of a transaction. They also understand how banks operate and are helpful in satisfaction of internal requirements of the bank. They are famous for their expertise and experience in real estate finance and export finance and should be watched at their attempts to gain similar recognition in project finance, especially in renewables. ’

‘We have been working mostly with Stefan Feliniak, who has great analytical skills and is able to manage large multijurisdictional transactions himself.’

Key clients

Powszechna Kasa Oszczędności Bank Polski S.A.

Berlin Hyp AG

BaseCamp Student Operations sp. z o.o.

Savills Investment Management KVG GmbH

Panattoni

mBank S.A.

ING Bank Śląski S.A.

Bank Polska Kasa Opieki S.A.,

Bank Gospodarstwa Krajowego

Erste Group Bank

Santander Bank Polska S.A.

Banco Santander, S.A. Filiale Frankfurt

Tesco PLC

KUKE S.A.

Work highlights

  • Advised Berlin Hyp AG and Powszechna Kasa Oszczędności Bank Polski S.A. on a EUR 166 million financing of a portfolio of office properties.
  • Advising BaseCamp on the financing of a number of student houses in Poland (with the total facilities amount exceeding PLN 300 million).
  • Advised Bank Gospodarstwa Krajowego on solvent restructuring of OT Logistics,  one of the most complex restructuring matters in Poland.

DWF Poland Jamka Sp.k

DWF Poland Jamka Sp.k is building a notable transactional and regulatory team, with experience in acquisition, real estate and leasing finance, as well as secured and syndicated lending structures. The group is co-led by Adam Stopyra, who is a regulatory expert with a specialism in the implementation of EU directives, and Tomasz Kaczmarek.

Eversheds Sutherland Poland

Eversheds Sutherland Poland handles financing and regulatory issues related to infrastructure projects and real estate transactions. The group is increasingly active in the fintech sector, where it advises payment institutions on issues involving blockchain technology and virtual currency trading. Leading the team is project finance specialist Michał Markowski. Senior associate Małgorzata Gołębiowska is recommended for her expertise in regulatory issues.

Practice head(s):

Michał Markowski

Other key lawyers:

Małgorzata Gołębiowska; Krzysztof Wiśniewski

Key clients

Alior Bank

mBank Hipoteczny

American Express Poland

Ghelamco

Avis Poland

First Data

GDDKiA (General Directorate for National Roads and Motorways)

mBank S.A.

European Bank for Reconstruction and Development

BNP Paribas Bank Polska

Work highlights

  • Advisor to mBank (Commerzbank group) on a number of real estate financing transactions, including the financing transaction for a logistics and warehouse project in Silesia (facilities up to amount + PLN 20 mln)
  • Assisting the European Bank for Reconstruction and Development, the Ministry of Finance and the Polish Financial Supervision Authority (UKNF) respectively with developing innovative technological solutions within the Polish financial market (banking, insurance, payment services, and capital markets (including funds).
  • Advised BNP Paribas Bank Polska S.A. on the financing and refinancing transaction of the reconstruction of a historic tenement house in Warsaw.

EY Law

EY Law's banking and finance department is well-integrated into the firm's consultancy practice, enabling it to draw on the support of its tax, accounting and financial advisory arms. The team provides advice to clients on transactions and it is also called upon to assist with financial restructurings. The group is led by of counsel Małgorzata Chruściak who is a transactional and regulatory lawyer. Zuzanna Zakrzewska, who is a co-head of the corporate and M&A practice, is another key practitioner for finance transactions.

Noerr

Noerr's group predominantly advises banks and other lenders on financing transactions involving real estate. The group also has a strong regulatory practice, which is led by counsel Konrad Werner, who is an expert in EU banking directives. Ludomir Biedecki, who is the overall head of the practice, has specific expertise in secured lending and restructuring.

Penteris

Penteris, formerly the Warsaw office of Magnusson until it spun out in 2020, advises borrowers and lenders on real estate, project and acquisition finance, as well as regulatory issues. The group is particularly focused on the real estate sector, which is an area that practice head Katarzyna Sawa-Rybaczek has ample experience of.

Practice head(s):

Katarzyna Sawa-Rybaczek

Key clients

ING

Octava Property Trust

Octava S.A. (Elliott Associates Group)

IMMOFINANZ

Vastint Poland

Ares Management

Apollo-Rida

RIDA Development Corporation

Work highlights

  • Advised Apollo-Rida and Ares Management on the financing of their purchase of Equal Business Park in Cracow from Cavatina Holding (1st stage). Worth EUR 100m; it was one of the biggest transactions of its kind during the global lockdown.
  • Advised ING on the financing of the VAT tax value on the price of the acquisition of Warsaw’s Prosta Office Center (purchased by KGAL Fund from Cromwell Property Group).
  • Advised Octava Property Trust on changing the structure of real estate financing granted to two SPVs, one of them holding a retail and office asset in Warsaw, and the other one – holding an office asset in Warsaw.

Radzikowski, Szubielska i Wspólnicy sp.j.

Radzikowski, Szubielska i Wspólnicy sp.k. is most recognised for its real estate finance practice. It is often called upon to advise Polish banks and developers on residential projects, as well as financing issues arising from the office and retail sectors. Martyna Kamińska-Tabaka and Agnieszka Piasecka are the joint heads of the department.

Practice head(s):

Martyna Kamińska-Tabaka; Agnieszka Piasecka

act BSWW legal & tax

act BSWW's group is focused entirely on investment financing, with particular expertise in the real estate sector, where it advises Polish and foreign real estate developers and investment companies on projects across Poland. Senior associate Mateusz Prokopiuk takes the lead on a number of real estate financing matters. Managing partner Michał Wielhorski has significant experience of debtor-side work.

Practice head(s):

Michał Wielhorski

Other key lawyers:

Mateusz Prokopiuk

Key clients

Adventum International

Buma Group

Porto Office

TUF Real Estate

Xender

YIT Development

Work highlights

  • Advised one of the leading Polish developers on a range of debtor-side financing projects for office and residential projects.
  • Advised one of the leading international developers on EUR 12m financing of a residential project (the funds were raised through an alternative financing model, i.e. discount of receivables).
  • Advised a real estate investment fund (purchaser) on acquisition of an office building in Katowice, along with a loan intended for payment of part of the sale price.

BSJP Brockhuis Jurczak Prusak Sroka Nilsson Sp. k.

BSJP Brockhuis Jurczak Prusak Sroka Nilsson Sp. k.'s banking, finance and restructuring group is noted for its 'very high level of knowledge of German banks' needs when doing business in Poland’. The group, which is led by Katarzyna Domańska-Mołdawa, focuses primarily on acquisition finance, asset finance and project finance, as well as debt refinancing and financial restructurings.

Practice head(s):

Katarzyna Domańska-Mołdawa

Testimonials

‘Multilingual, Polish, German and English’

‘Very high level of knowledge about German bank’s needs when doing business in Poland’

Work highlights

  • Advised two German-regulated banks on funding for a EUR 185 million restructuring process of an automotive holding.
  • Advised a German investment bank on an EUR 117 million cross-border acquisition of a portfolio of five newly-built logistics parks located across Poland.
  • Advised a German and a Polish bank on an EUR 71 million cross-border acquisition of three shopping centres in top locations in Poland.

Crido Legal

At Crido Legal, practitioners advise on lender-side project finance transactions. In addition, the firm has a strong profile among borrowers, including a number of housing developers.

Key clients

Bank Pekao

Bank Gospodarstwa Krajowego

3T Office Park sp. z o.o.

Europi Property Group

Unidevelopment S.A.

Avenger Flight Group

Work highlights

  • Advised Bank Pekao on the financing of a retail centre.
  • Advised Bank Pekao on the financing of an office development in Gdynia

FinTaxLegal

FinTaxLegal is a Krakow-based firm with a focus on cutting edge areas of financial services. Its group has a high level of expertise in the fintech arena and is called upon by clients to advise on the regulatory aspects of their operations. The team is co-led by founding partners Zbigniew Długosz and Konrad Stolarski.

FKA Furtek Komosa Aleksandrowicz

FKA Furtek Komosa Aleksandrowicz's team handles a mix of banking transactions and disputes, with increasing involvement in Swiss franc-backed mortgage litigation and derivatives disputes. The group has a varied project finance practice. Jointly leading the group are co-founding partners Marek Furtek, who is known for contentious banking issues, and tax expert Mariusz Aleksandrowicz.

Practice head(s):

Marek Furtek; Mariusz Aleksandrowicz

Other key lawyers:

Agnieszka Skrok; Milena Wieczorek-Waszewska; Paulina Smulska

Key clients

Banco Santander

ZPL (Polish Leasing Association)

PGL Leasing Sp. z o.o.

Work highlights

  • Advice to a group of Spanish lenders led by Banco Santander and restructuring financial indebtedness of a Spanish construction and infrastructure group with respect to Polish-law security over assets in Poland.
  • Advising leasing arm of Polska Grupa Lotnicza S.A. on preparing leasing documentation.