SSW advised a consortium of banks on the financing of the construction of the Łódź Recycling Centre

We are pleased to announce that SSW Spaczyński, Szczepaniak, Wickel, Goździowska advised a consortium of banks comprising 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 guarantee amount of PLN 141.1 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.

This is another example of a project whose successful completion was made possible by the commitment of all parties involved and their effective cooperation.

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.