The 160 million PLN credit will be used to refinance the financial indebtedness of the Iglotex group and finance the development of a new production plant and distribution centre in Skórcz.
According to the company, it will be the most modern food processing plant in the CEE. The investment obtained the support of the Pomeranian Special Economic Zone. The development is due to be finalised in 2020 and the new plant, with the total area of approx. 24,400 m2, will provide occupation for nearly 700 employees.
The Warsaw Clifford Chance team advising on the transaction included: Andrzej Stosio, Partner and Co-head of the Banking & Finance Practice, Anna Miernik, Senior Associate, as well as Associates Natalia Karasiewicz and Artur Gładysz.