White & Case has advised InPost on its issuance of EUR 850 million high-yield bonds with an interest rate of 4.000% per annum, maturing in 2031. Baker McKenzie advised Banco Santander, Citigroup Global Markets Limited, and J.P. Morgan as initial purchasers of the issued bonds.
InPost is an out-of-home delivery partner with its operations within Europe, including in Poland, the United Kingdom, Ireland, France, Belgium, the Netherlands, Luxembourg, Spain, Portugal, and Italy.
According to Baker McKenzie, "the senior notes were offered in the US to qualified institutional buyers pursuant to Rule 144A of the US Securities Act and outside the US in offshore transactions pursuant to Regulation S of the US Securities Act. The notes were listed on the International Stock Exchange, and the net proceeds will be primarily used to redeem existing bonds issued in 2021 and to partially repay amounts drawn under InPost’s multi-currency revolving credit facility."
Earlier in 2023, White & Case also advised the PPF Group on its acquisition of a 15% shareholding in InPost from Advent International (as reported by CEE Legal Matters on June 7, 2023).
The White & Case team included Warsaw-based Partner Marcin Studniarek, Local Partner Monika Duzynska, and Associate Dawid Ksiazek, as well as teams from the firm's London and Luxembourg offices.
The Baker McKenzie team included Warsaw-based Partner Marcin Iwaniszyn, Counsel Katarzyna Grodziewicz, Lawyer Jakub Demus, Associate Robert Smigielski, and Trainee Julia Gorczyca, together with lawyers from the firm's London and Luxembourg offices.
