Advisory concerned Corporate Bond Issue Program and Otc Listing.

White & Case P. Pietkiewicz, M. Studniarek i Wspólnicy Kancelaria Prawna sp.k., which is a member of international law firm White & Case LLP, has advised ENERGA SA, a capital group generating, trading in and distributing heat and electricity, on its domestic bond issue program of up to PLN 4 billion.
The first issue launched under the program was comprised of the PLN 1 billion 7-year series A bearer bonds issued and listed on the OTC market run by BondSpot SA on the Catalyst bond market. The issue was organized by Bank Pekao SA and BRE Bank SA.

According to ENERGA SA’s press release, the capital raised from the bond issue will be used for the implementation of the ENERGA SA Group’s Long-Term Strategic Investment Plan for 2012–2020, including the expansion and upgrading of distribution grids.

“In the entire 2012, we have witnessed an exceptionally intensive activity of Polish companies on the debt market. Volatility and the related uncertainty which can be noticed on stock markets makes companies seek capital on a more stable and safer financial debt instrument market. We are particularly pleased that in spite of cautious or even skeptical forecasts of the development of the Polish economy, international rating agencies appreciate Polish companies’ investment plans and development prospects, as evidenced by ENERGA SA’s increased credit rating to BBB,” said Andrzej Sutkowski, a White & Case partner.

The transaction team consisted of lawyers from capital markets practice including partners Marcin Studniarek and Andrzej Sutkowski, and associate Bartosz Smardzewski.
With an office in Warsaw since 1991, White & Case is one of the largest international law firms in Poland, advising leading Polish and international companies on the most complex cross-border and national transactions in the market.

Contact:
Mariusz Mroczek
Senior Business Development Manager
White & Case
P. Pietkiewicz, M. Studniarek
i Wspólnicy Kancelaria Prawna sp.k.
+ 48 22 50 50 225
mrmroczek@whitecase.com