Wardyński & Partners advises bank consortium on financing of Work Service SA
03.12.2016
The firm’s advice involved negotiation and drafting of credit and collateral documentation. The transaction value totalled PLN 105 million.
Wardyński & Partners advised a consortium of BNP Paribas Bank Polska SA, Bank Millennium SA and Polski Bank Przedsiębiorczości SA on financing of companies from the Work Service SA group. The aggregate transaction value of PLN 105 million included loans for refinancing the Polish and foreign debt of group companies, as well as credit for ongoing operations of the group.
The legal assistance of Wardyński & Partners included negotiation and drafting of credit and collateral documentation, structured under Polish law. The firm also coordinated the work of foreign advisers to the consortium (from three jurisdictions) with regard to securitisation documents as well as foreign assets of Work Service SA group entities.
The work on the project was performed by Łukasz Szegda, partner responsible for the firm’s Banking & Finance practice, as well as Michał Kalicki and Jakub Koziński.
The Work Service SA group is the biggest player on the Polish HR services market and also operates in other CEE countries (Czechia, Germany, Romania, Russia, Slovakia, Turkey and Ukraine). Work Service SA was the first personnel services company listed on the Warsaw Stock Exchange. The company cooperates with over 2,200 clients, for whom it employs and manages over 21,000 staff.