WARSAW - February 14, 2020 - Greenberg Traurig advised Cyfrowy Polsat on the issue of series C green bonds with an aggregate nominal value of PLN 1 billion.
The transaction marks the first issue of green bonds on the Polish market conducted by a non-financial entity outside of the public sector, in line with the Green Bond Framework and positively verified for compliance with the Green Bonds Principles 2018 by an independent expert (Second Party Opinion). The proceeds from the issue will be used to refinance pro-environmental projects, improve energy efficiency of Grupa Polsat and reduce of the carbon footprint associated with the electronic devices manufactured by Cyfrowy Polsat.
Cyfrowy Polsat, within its bond issue program, issued unsecured bearer series C bonds. The bonds were issued through a public offering addressed solely to qualified investors, which did not require a prospectus to be prepared. The company introduced the bonds to the Alternative Trading System operated by the Warsaw Stock Exchange within the framework of the Catalyst. The bonds are expected to be listed in February.
Greenberg Traurig provided comprehensive legal advice to Cyfrowy Polsat with respect to the establishment of the bond program, conducting the public offering, registration of the series C bonds with the Central Securities Depository of Poland and the introduction of the bonds to trading in the Alternative Trading System.
The transaction was led by Local Partners from the Warsaw Greenberg Traurig Office Karolina Dunin-Wilczyńska and Daniel Kaczorowski, with support from Partners Aleksander Janiszewski and Andrzej Wysokiński. The team also included Senior Associate Marek Kłeczek, Associate Maja Gawrysiuk and Associate Grzegorz Socha.
Grupa Polsat is the largest in Poland and one of the leading media and telecommunications groups in the region. The Group provides its 5.7 million customers with access to 17 million services: telecommunication, pay digital TV and Internet. The Group includes the following main companies and brands: Cyfrowy Polsat, Polkomtel, Telewizja Polsat, Netia and IPLA.
Greenberg Traurig recently represented Cyfrowy Polsat with respect to the acquisition of approximately 22% of Asseco Poland shares and a majority stake in Netia, negotiation of the joint venture agreement with Discovery Communications Europe Limited and TVN S.A. regarding the establishment of a new OTT streaming platform and obtaining a pioneering PLN 1 billion incremental facility.
Greenberg Traurig LLP
Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 2100 attorneys serving clients from 41 offices in the United States, Latin America, Europe, Asia, and the Middle East.
Greenberg Traurig Grzesiak sp.k. was named the 2019 and 2018 Most Innovative Law Firm of the Year Award for Poland by International Financial Law Review (IFLR) and the 2017 Law Firm of the Year in Poland by Chambers and Partners. The Warsaw office of Greenberg Traurig, LLP provides legal services to clients in Central Europe and beyond and consists of approximately 100 lawyers. Team members are regularly recognized as leaders in numerous practice areas. Chambers Global, Chambers Europe, IFLR1000 and EMEA Legal 500 consistently rank them among the top tiers the areas of Corporate/M&A, Capital Markets, Real Estate, Private Equity, Tax, Banking and Finance, Project Finance, Energy, Dispute Resolution and TMT.