SSW, Interlaw’s partner firm in Poland, has advised a consortium of banks, including Bank Polska Kasa Opieki S.A., PKO Bank Polski S.A. and Bank Gospodarstwa Krajowego, on a transaction involving the issuance of a bank guarantee securing the repayment of a loan granted by the Voivodeship Fund for Environmental Protection and Water Management in Łódź to Miejskie Przedsiębiorstwo Oczyszczania Łódź sp. z o.o.

The bank guarantee, with an aggregate amount of PLN 141.1 million (approx. US$35.6 million), secures the repayment of a PLN 116.3 million loan granted to finance the project entitled “Construction of the Łódź Recycling Centre – Stage I – Removal of the Waste Heap. 

SSW provided comprehensive legal advice on the transaction, including the preparation of the full suite of transaction documents, comprising the bank guarantee facility agreement and a comprehensive security package. 

The SSW team was led by Rafał Grochowski from the infrastructure finance and debt issuance team, with support from Joanna Sępkowska and Monika Knothe-Pierwienis.