PLAY’s Financing Acquisition of UPC Polska

Norton Rose Fulbright and SK&S advised P4 sp. z o.o. on the deal, while Allen & Overy advised the lenders.

P4 sp. z o.o. (branded as PLAY) was granted PLN 5.5 billion (EUR 1.12 billion) to partially finance the acquisition of UPC Polska in Poland from Liberty Global.

Closing of the acquisition of UPC Polska and financing is subject to pending antimonopoly clearance.

The financing will be provided by a consortium of banks comprising BNP Paribas Bank Polska S.A., Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Powszechna Kasa Oszczednosci Bank Polski S.A., Raiffeisen Bank International AG, Santander Bank Polska S.A. and Société Générale as mandated lead arrangers, underwriters and bookrunners; BNP Paribas Bank Polska S.A., Credit Agricole Bank Polska S.A., Crédit Agricole Corporate and Investment Bank, ING Bank N.V., ING Bank Slaski S.A., Powszechna Kasa Oszczednosci Bank Polski S.A., Raiffeisen Bank International AG, Santander Bank Polska S.A. and Société Générale as original lenders; Crédit Agricole Corporate and Investment Bank as documentation agent; and Santander Bank Polska S.A. as agent.

P4 sp. z o.o. (branded as PLAY) is the largest mobile telecommunications service provider in Poland with 28% market share and one of Europe’s fastest growing telecoms companies. PLAY is part of iliad Group, French telecommunication operator.

UPC Polska is one of the largest cable television operators and a leading provider of triple play services in Poland.

The Warsaw team was led by counsel Tomasz Rogalski and associate Igor Kondratowicz who were supported by associate Karolina Majcher, all from the banking and finance team in Warsaw headed by partner Grzegorz Dyczkowski (Picture).

PLAY team included Marek Chrusciel, Agnieszka Kolanek and Boleslaw Juras (treasury) and Klaudia Boczewska, Barbara Tekieli and Anna Krynska-Górska (legal).

The Allen & Overy team consisted of Partners Tomasz Kawczynski and Dan Cocker as well as Senior Associate Anna Pawelec.

The SK&S team was led by Dr Marcin Olechowski, Partner, Andrzej Motyka, Partner (M&A); Karol Skibniewski, Senior Associate (M&A); Bartlomiej Debski, Senior Associate (real estate); Michal Oles, Associate (real estate); and Mikolaj Stepkowski, Associate (IP/IT). Tax advice was provided by Slawomir Luczak, Partner; and Magdalena Polak, Associate. Advice on regulatory issues was provided by Marta Kupczak-Strzelecka, Senior Counsel (TMT); Joanna Marek, Senior Associate (consumer issues); Damian Kopera, Senior Associate (competition issues); and Katarzyna Klonecka, Associate (personal data). Advice on labour law related issues was provided by Agnieszka Fedor, Partner; and Filip Sodulski, Senior Associate.

Involved fees earner: Dan Cocker – Allen & Overy; Tomasz Kawczynski – Allen & Overy; Anna Pawelec – Allen & Overy; Grzegorz Dyczkowski – Norton Rose Fulbright; Igor Kondratowicz – Norton Rose Fulbright; Karolina Majcher – Norton Rose Fulbright; Tomasz Rogalski – Norton Rose Fulbright; Bartlomiej Debski – Soltysi?ski Kawecki & Szl?zak; Agnieszka Fedor – Soltysi?ski Kawecki & Szl?zak; Katarzyna Klonecka – Soltysi?ski Kawecki & Szl?zak; Damian Kopera – Soltysi?ski Kawecki & Szl?zak; Marta Kupczak-Strzelecka – Soltysi?ski Kawecki & Szl?zak; Slawomir Luczak – Soltysi?ski Kawecki & Szl?zak; Joanna Marek – Soltysi?ski Kawecki & Szl?zak; Andrzej Motyka – Soltysi?ski Kawecki & Szl?zak; Marcin Olechowski – Soltysi?ski Kawecki & Szl?zak; Michal Oles – Soltysi?ski Kawecki & Szl?zak; Magdalena Polak – Soltysi?ski Kawecki & Szl?zak; Karol Skibniewski – Soltysi?ski Kawecki & Szl?zak; Filip Sodulski – Soltysi?ski Kawecki & Szl?zak; Mikolaj Stepkowski – Soltysi?ski Kawecki & Szl?zak;

Law Firms: Allen & Overy; Norton Rose Fulbright; Soltysi?ski Kawecki & Szl?zak;

Clients: BNP Paribas Bank Polska S.A.; Crédit Agricole Corporate and Investment Bank; ING Bank; ING Bank Slaski S.A.; P4 Sp. Z o.o.; Powszechna Kasa Oszcz?dno?ci Bank Polski S.A.; Raiffeisen Bank International AG ; Santander Bank Polska S.A.;

Giulia Di Palma

Author: Giulia Di Palma