Norton Rose Fulbright advises financial institutions on PLN3 billion financing for Vectra and Multimedia Polska

Global law firm Norton Rose Fulbright has advised seven financial institutions in connection with a financing granted to the Vectra S.A. and Multimedia Polska sp. z o.o. group with a total value of nearly PLN3 billion.

The transaction refinanced the existing facility agreement, replacing it with a new complex financing structure for Vectra S.A. and Multimedia Polska sp. z o.o.

Bank Polska Kasa Opieki S.A. (Bank Pekao) acted as Agent and Security Agent. The banking syndicate consisted of: Bank Polska Kasa Opieki S.A., Santander Bank Polska S.A., BNP Paribas Bank Polska S.A., Powszechna Kasa Oszczędności Bank Polski S.A., Bank Gospodarstwa Krajowego and mBank S.A.

A key feature of the transaction was the execution of a multi-layered intercreditor framework, distinguishing it from standard syndicated financings on the Polish market.

All financing agreements are governed by English law.

The closing of the agreements strengthens the long-term financing structure and supports its strategic expansion plans of Vectra S.A. and Multimedia Polska sp. z o.o.

The Norton Rose Fulbright team in Warsaw was led by counsel Jacek Smardzewski and included associates Daniel Książek, Michał Rutkowski, and Izabela Kręgiel, as well as lawyer Natalia Rybak, all working under the supervision of partner Grzegorz Dyczkowski, who heads the firm's Warsaw office and Warsaw banking and finance practice. London-based partner James Dunnett provided English law advice.

The Vectra / Multimedia Polska group is a Polish telecommunications group providing cable television, internet access and telephony services across Poland.