Norton Rose Fulbright advises Inter Cars S.A. on PLN 4bn sustainability-linked financing

Global law firm Norton Rose Fulbright has advised Inter Cars S.A. on the negotiation and execution of a sustainability-linked senior term and revolving facilities agreement in the aggregate amount of PLN 4 billion.

This new financing comprises a PLN 1,625 billion term loan facility and a PLN 2,375 billion revolving loan facility. The facilities will be used to refinance the Inter Cars group indebtedness, including the Inter Cars Group's existing senior term and revolving facilities agreement originally dated November 14 2016, and to finance the current Inter Cars group operations and investments.

The Warsaw-based Norton Rose Fulbright team was led by counsel Krzysztof Gorzelak and included associate Michał Rutkowski. The team worked under the supervision of partner Grzegorz Dyczkowski, who heads the Warsaw office and the firm's Warsaw banking and finance practice. The team acted as counsel to Inter Cars S.A., as company and lead borrower, and other borrowers and guarantors from Inter Cars Group located in Poland and other CEE and Southern Europe jurisdictions.

The transaction involved a significant increase of the Group's senior facilities and a reorganisation of the lending syndicate.

The transaction included implementation of sustainability-linked loan provisions which commit Inter Cars S.A. to measure and report on achievement of certain sustainability performance targets.

Krzysztof Gorzelak, PhD commented:

"We greatly value our long-standing relationship with Inter Cars S.A. and are pleased to have supported the group once again on a major financing transaction. This PLN 4 billion sustainability-linked financing is another important milestone in the group's continued development across European markets."

Inter Cars is the second largest distributor of automotive parts in Europe, the largest distributor of truck and commercial vehicles parts in EU and six in the distribution of automotive parts in the world. The company's product range also includes workshop equipment, in particular car service and repair equipment, and motorbike and tuning parts. Inter Cars employs more than 14,000 people and is present on more than 21 European markets.