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    Home » Norton Rose Fulbright and Linklaters Advise on PLN 4 Billion Financing for Tauron

    Norton Rose Fulbright and Linklaters Advise on PLN 4 Billion Financing for Tauron

    July 25, 20222 Mins Read News
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    Norton Rose Fulbright has advised a consortium of banks on the PLN 4 billion sustainability-linked financing for Tauron Polska Energia. Linklaters advised Tauron Polska Energia.

    According to Norton Rose, the consoritum included Powszechna Kasa Oszczednosci Bank Polski, Bank Polska Kasa Opieki, CaixaBank, Bank Handlowy w Warszawie, Erste Group Bank AG, Industrial and Commercial Bank of China, Santander Bank Polska, and China Construction Bank. “Funds from the syndicated loan will be used to refinance existing financing and to finance the Tauron Group’s corporate-wide expenditures (excluding those related to coal assets).”

    Tauron Polska Energia is the parent company of the Tauron Group, one of the largest business entities in Poland, with equity of more than PLN 17 billion and more than 25,000 employees. 

    According to the firm, “the interest rate on the funds made available under the loan agreement will be calculated on the basis of a variable interest rate plus a margin that depends on the fulfillment of the sustainable development indicators, i.e. the emission reduction rate and the rate of increasing the share of renewable energy sources in the Tauron Group’s generation structure. An independent auditor will confirm the accuracy of the sustainable development indicators’ calculations.”

    Norton Rose’s team included Partner Grzegorz Dyczkowski, Counsel Jacek Smardzewski, and Associate Igor Kondratowicz.

    Linklaters’ team included Partner Marta Domino and Senior Associates Katarzyna Lesinska and Piotr Hurkala.

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