White & Case advises on establishment of Play’s PLN 3 billion bond issuance programme and issuance of PLN 700 million green bonds

Global law firm White & Case LLP has advised on the establishment of a bond issuance programme with a total nominal value of up to PLN 3 billion by P4 sp. z o.o., the operator of the Play network and a leading telecommunications provider in Poland, and the issuance of green bonds worth PLN 700 million under the programme.

The C-series bonds have a five-year maturity period and are addressed to qualified investors in Poland. The bonds are unsecured with a variable rate of WIBOR 6M plus a margin of 1.80% per annum.

The funds from the issuance will be allocated in accordance with the Green Financing Framework compliant with the International Capital Market Association Green Bond Principles adopted by Iliad Group, one of the largest telecommunications groups in Europe and the parent company of P4.

The bonds have been registered in the securities depository maintained by the National Depository for Securities and will be introduced to the alternative trading system operated by the Warsaw Stock Exchange.

The White & Case team in Warsaw which advised on the transaction included partner Rafał Kamiński, local partner Bartosz Smardzewski and associate Michał Truszczyński.

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