Grzegorz Abram
Biography
Overview
Grzegorz Abram heads the Debt Finance practice. He is an advocate with nearly 20 years' professional experience.
He focuses on syndicated loans, based on the LMA standard or local law, complex multi-layered secured lending financing including intercreditor agreements, margin lending transactions, financing for the acquisition of listed and private companies, wind farm financing in the form of project finance, general banking advice (including regulatory aspects), and financing granted by the EIB and EBRD. He has also advised on different types of bond issues, including EMTN Eurobonds issued by the State Treasury of the Republic of Poland or non-soverein issuers, several issues of subordinated bonds and the first issue of revenue bonds in Poland. He has also advised in connection with programs of structured bonds linked with indices, commodities and investment funds. Grzegorz's practice also covers restructuring proceedings either on the lenders' or debtors' side.
Grzegorz has been recognized by the international legal directory IFLR1000 as a leading lawyer in Debt Capital Markets in Poland and as recommended lawyer in capital markets by Chambers and Legal500.
Faculty of Law and Administration
Warsaw (in cooperation with the University of Cambridge)
Experience
A consortium of banks: representation of a consortium of four banks in connection with the financing of the acquisition by the Maspex Group of CEDC (the Polish assets of Roust Corporation) up to the amount of PLN 2.8 billion (EUR 600 million). White & Case advised the consortium on all the legal aspects of the acquisition financing, including negotiating and signing of the facilities agreement and security documents and fulfillment of the conditions for disbursement.
GLP Europe: representation of GLP Europe, a leading international logistics, real estate, infrastructure and finance investment management firm, in connection with a €85 million loan agreement to refinance a portfolio of logistics assets in Poland. The portfolio comprises four A-class logistics parks composed of nine new buildings located at major arterial junctions in Poland: Warsaw Bronisze, Rzeszów, Łódź West and Łódź East. The financing was provided by Aareal Bank AG. The transaction was directly related to an M&A transaction involving the same portfolio of logistics assets, also advised on by White & Case.
Norddeutsche Landesbank and EKF: representation of Norddeutsche Landesbank and EKF Denmark's Export Agency in connection with the Polish law aspects of granting a loan to Janikowo GP GmbH sp. k. for financing construction of the wind farm “Park Wiatrowy Janikowo” near Inowrocław, Poland, comprising 30 turbines with a total capacity of 60 MW.
P4 sp. z o.o.: representation of P4 sp. z o.o., the Play network operator that is part of the French iliad Group, in connection with a PLN 5.5 billion funding from a consortium consisting of Credit Agricole Corporate and Investment Bank, Raiffeisen Bank International AG and Santander Bank Polska as main arrangers, original lenders and financing guarantors, and Credit Agricole Bank Polska as an original lender. The funds are to be used for repaying the company's current debt and for general corporate purposes.
Global Compute LLC: representation of Global Compute LLC, as the borrower, in connection with the 528 mln PLN financing of the acquisition of AAW III sp. z o.o. and ATM S.A., the owner of Poland's largest communication-neutral data centers.
Cerrad sp. z o.o.: representation of Cerrad sp. z o.o., one of the leading manufacturers of stoneware and clinker tiles, in connection with the financing of a new production plant.
Taaleri SolarWind II i Masdar: representation of a joint venture controlled by Taaleri SolarWind II and Masdar in connection with the financing of the acquisition, development and construction of the Mława and Grajewo wind farms with a total capacity of 51.4 MW, from Solaque Holding Ltd. and Wind Power Systems A/S Vestas. Project financing is provided by the European Bank for Reconstruction and Development (EBRD) and DNB Polska.
Synthos S.A.: representation of Synthos S.A., a Polish chemical company operating in the synthetic rubber and styrene plastics industry, on the issuance of €600 million seven-year bonds on the international markets. The bonds, which have a fixed interest rate of 2.5% and were issued under New York law, are listed on the Global Exchange Market Euronext in Dublin. We also advised Synthos on the renegotiation of revolving loan agreements of up to €500 million, the repayment of the existing term loan, the negotiations of an inter-creditor agreement and security documentation.
R.Power: representation of R.Power, the largest Polish developer of photovoltaic farms, in connection with the establishment of a green bond issuance program with the total nominal value of up to PLN 1 billion. As part of the program, the first series of secured bearer bonds was issued with the total nominal value of PLN 150 million and a five-year maturity period based on a non-prospectus public offering addressed to qualified investors.
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.
