Bird & Bird’s Warsaw office lawyers recently advised Bank Pekao S.A. on amending the terms of an investment credit facility granted to a Polish Park Projects Group company. The credit facility is to finance the operation of Park Avenue, a class A office building located in a prestigious part of Warsaw at ul. Wspólna 70. The total value of the credit facility granted by Bank Pekao was approximately EUR 41 million.
Bird & Bird provided comprehensive legal advice to Pekao Bank, including preparation and negotiation of amendments to the credit facility documentation with the borrower and other Park Projects Group companies, and successfully closed the transaction.
The project team was led by Olga Koszewska (Counsel) from Bird & Bird’s Finance & Financial Regulation team, assisted by her team colleagues: Krzysztof Wisniewski (Senior Associate) and Katarzyna Blusiewicz (Junior Associate).
On the bank’s side, the transaction was managed by Malgorzata Gdula from the Investment Banking and Real Estate Finance Department, assisted by Beata Peryt, a Director from the same department.
On the part of the Borrower, the Management Board of Park Avenue 2010 sp. z o.o., Jacek Sanek, the President of the Management Board, and its legal advisors, were directly involved in the transaction.
“We are very pleased to have advised Pekao Bank on this project and to have worked with Park Projects Group again. Congratulations to the bank’s team and Park Avenue 2010 sp. z o.o.’s team on the smooth execution of the transaction. We look forward to continuing to work with them on future projects,” comments Olga Koszewska of Bird & Bird.
“We are delighted with the success of our client, Park Projects Group. The funding will enable them to continue the development of the prestigious Park Avenue office building. We are proud to be able to support such ambitious projects. We would also like to thank the law firm Bird & Bird, whose support we use for many funding projects. The professionalism and dedication of Olga Koszewska’s team to finding the best solutions ensure that our projects run smoothly and on time,” – said Beata Peryt from the Investment Banking and Real Estate Finance Department, Commercial Real Estate Finance Office at Bank Pekao.
“Once again we have had the opportunity to work with Bird & Bird law firm. This time on significant amendments to the loan documentation that underpins our long-standing relationship with Bank Pekao S.A. The team, led by Olga Koszewska, prepared all the documentation and oversaw its approval by the parties. It also ensured smooth registration of the amendments with the relevant courts. Our cooperation with Bird & Bird and Olga Koszewska’s team, as well as with Bank Pekao S.A. and Beata Peryt’s team, in particular Małgorzata Gdula, demonstrates that the involvement of people with the highest professional background in implementing difficult and complex tasks, such as significant amendments to loan documentation, ensuring that the process runs smoothly and according to the agreed schedule. We are convinced that these qualities will guarantee further fruitful and beneficial cooperation between the parties.” – comments Jacek Sanek, President of the Management Board of Park Avenue 2010 sp. z o.o.
