Global law firm White & Case LLP advised Cerrad sp. z o.o., one of the leading manufacturers of ceramic tiles in the Central and Eastern European (CEE) region, in connection with obtaining financing in the amount of PLN 87 million from the Polish Development Fund (PFR) and the handling and amendment of loan documentation for existing debt in the amount of approximately PLN 516 million.
The funds raised will be used to finalize investments, including the refinancing of related debt, connected with the installation of a cogeneration plant and the modernization of the production line at the plant in Starachowice, Poland, as well as to finance the company’s liquidity needs related to further sales development.
Cerrad has one of the most modern machine parks in Europe and is one of the industry leaders in terms of production efficiency, which in the future should enable the company not only to maintain its strong position in the domestic market but also to further strengthen its position in foreign markets.
PFR is a strategic company offering instruments for the development of enterprises, local governments and individuals, investing in sustainable social development and economic growth of the country.
The White & Case team in Warsaw that advised on the transaction included partner Grzegorz Abram, and associates Magdalena Bachleda-Księdzularz and Marlena Skowrońska.