Rymarz Zdort advised Pepco Group N.V. and its subsidiaries (“Pepco” or the “Group”) on the Polish law aspects of a EUR 740 million senior facilities agreement entered into with a consortium comprising 11 leading international and Polish financial institutions.
In order to refinance the Pepco Group’s existing indebtedness, Pepco Group entities entered into a new senior facilities agreement under which secured term loans in the aggregate amount of up to EUR 550 million and a secured working capital facility in the aggregate amount of up to EUR 190 million (or the equivalent thereof in other currencies) were made available to the Group.
The refinancing was connected with the IPO of Pepco on the Warsaw Stock Exchange (in connection with which Rymarz Zdort also advised Pepco Group on Polish law matters) and the respective finance documentation included aspects directly related to the IPO.
Pepco owns and operates a multi-format, pan-European retail business under the PEPCO, Dealz and Poundland brands, with 3,246 stores located across 16 countries (as at 31 March 2021). In the financial year ended 30 September 2020, Pepco’s revenues increased to EUR 3.5 billion.
Marcin Iwaniszyn, a partner and co-head of the banking and finance practice of Rymarz Zdort, supervised the team working on the financing, which also included associate Sebastian Mikina, who rendered day-to-day advice relating to the financing and was supported by associate Krystian Kurgan.