WARSAW - Oct. 26, 2017 - Greenberg Traurig advised Alior Bank on the establishment of a bond issuance program with a nominal value of up to PLN 1.2 billion.
The prospectus was approved by the Polish Financial Supervision Authority (KNF) and allows multiple issuances, within 12 months of its approval, of ordinary or subordinated bonds with a total nominal value of up to PLN 1.2 billion, and a total nominal value of all subordinated bonds issued under the prospectus not exceeding PLN 600 million.
Greenberg Traurig advised on the establishment of the program and on the preparation of the prospectus, as well as obtaining approval from the KNF. This is a unique case of drawing up a prospectus which covers both subordinated and ordinary bonds. This structure was devised and developed by Greenberg Traurig.
Senior Partner Lejb Fogelman was responsible for supervising the team and Partner Ireneusz Matusielański provided ongoing legal advice and coordinated the project. He was supported by Dr. Adam Puchalski (Senior Associate), Karolina Dunin-Wilczyńska (Local Partner) and Tomasz Szekalski (Associate).
Alior Bank is one of the most dynamically growing banks in Poland. Alior Bank has been included in the WIG20 index of the largest and most liquid companies listed on the Main Market of the Warsaw Stock Exchange since 2014. In 2016, Greenberg Traurig advised Alior Bank on the establishment of a public bond issuance program with a total value of PLN 800 million and two bond issuances under the program.
Last year, Greenberg Traurig also represented Alior Bank in connection with the acquisition of Bank BPH’s core business from affiliates of GE Capital. The transaction was financed by a rights issue of Alior Bank and successfully executed with the assistance of Greenberg Traurig as the issuer’s counsel. Total gross proceeds from the offering amounted to PLN 2.2 billion, making it the largest public offering on the Warsaw Stock Exchange since 2013. In 2015, Alior Bank completed the acquisition of and merger with Meritum Bank, also advised by Greenberg Traurig. Greenberg Traurig additionally represented Alior Bank in other projects, including potential transformations of the Bank.
Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 2000 attorneys serving clients from 38 offices in the United States, Latin America, Europe, Asia, and the Middle East.
Greenberg Traurig Grzesiak sp.k. was named 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 over 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.
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