European Investment Bank provides financing to Wojskowe Zakłady Lotnicze

Wardynski & Partners advised European Investment Bank on a €33 million loan to WZL1 (Wojskowe Zakłady Lotnicze nr 1), part of Polska Grupa Zbrojeniowa (PGZ), to develop new servicing and technical support capabilities that will benefit the modernisation of the Polish industry and strengthen Europe’s autonomy in the crucial security and defence sector. The new servicing centre will be developed in the Polish city of Dęblin to enhance European capabilities in the area of maintenance, repair and overhaul of critical military vehicles.

The agreement is in line with EIB Group's strategic priority of supporting the European defence industry, and it reflects Poland's strategy to strengthen the security of the eastern flank of the EU and NATO.

The borrower - WZL1 (Wojskowe Zakłady Lotnicze nr 1) – is a part of Polska Grupa Zbrojeniowa (PGZ), leader of Polish defence industry, and the main industrial partner in the Technical Modernisation Programme of the Armed Forces of the Republic of Poland run by the Polish Ministry of National Defence.

Our advice included structuring of the transaction, including industry specific regulatory advice and taking part in negotiation and drafting of financing documentation.

Our team consisted of Dagmara Michalska (senior associate) and Łukasz Szegda as the partner supervising the team, with support of members of our firms’ defence practice.