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Greenberg Traurig becomes the first law firm in Poland to advise on a bond issue under the new Bonds Act

WARSAW, Poland – July 21, 2015 – Greenberg Traurig has become the first law firm in Poland to provide legal advice regarding a bond issue governed by the new Bonds Act, the client being Cyfrowy Polsat.

Cyfrowy Polsat today completed the issue of Series A unsecured bearer bonds with the aggregate nominal value of PLN 1 billion. The bonds were issued within the framework of a public offering addressed to more than 150 designated investors. The company is planning to seek the introduction of the bonds to the alternative trading system operated by the Warsaw Stock Exchange within the framework of the Catalyst market.

“Over the last 25 years our lawyers have attained a leading position with respect to Polish equity markets. We have advised our clients in connection with such groundbreaking projects as the first takeover of a public company on the WSE, the first dual listing of a foreign company on the WSE, the first hostile takeover on the WSE and the first WSE delisting. Therefore we are glad to have another opportunity to work with our long-standing client on a project in which we are the first team in Poland to advise on the issue of bonds under the provisions of the new Act,” said Jarosław Grzesiak, managing partner and head of the Capital Markets practice of the Warsaw office of Greenberg Traurig.

“It is also worth mentioning that Greenberg Traurig is known for its contribution to the process of changing the legal system, both from the theoretical and the practical points of view. The solutions developed by our team have been reflected on many occasions in the legal system and have been seen as a reference standard on the market,” he added.

The Greenberg Traurig Warsaw team was led by Managing Partner Grzesiak and included Partner Andrzej Wysokiński and Local Partner Paweł Piotrowski, supported by attorneys Paulina Kimla–Kaczorowska, Dawid Van Kędzierski, and Maja Gawrysiuk. Trigon Dom Maklerski S.A. provided support as the financial adviser and issue agent.

The Warsaw office of Greenberg Traurig can boast a wealth of experience concerning all aspects of varied undertakings connected with trading in securities on the Polish and international equity markets. The expertise and experience of attorneys from the capital markets team are confirmed every year by international and Polish rankings.

The new Bonds Act, which came into force on July 1, 2015, reintroduces the bondholders meeting, governs the procedure for amending the terms of the issue of bonds, introduces new types of bonds, and clarifies various issues, e.g., concerning the possibility foreign-owned SPVs issuing bonds.