Norton Rose Fulbright has advised a consortium of 21 Polish and international financial institutions on a PLN 13.5 billion financing package for LPP. White & Case advised LPP.
LPP is a Polish family-owned company operating for more than 30 years in the apparel industry in Central Europe. The company manages five fashion brands, including Reserved, Cropp, House, Mohito, and Sinsay.
According to Norton Rose Fulbright, the financing comprised both credit facilities and supply chain finance structures. Under the senior facilities agreement, the lenders have made available an investment loan of up to EUR 505 million and a revolving credit facility of up to PLN 2.8 billion. The facilities will be used primarily for refinancing existing indebtedness, capital expenditures relating to logistics centres in Europe, and general corporate purposes. In parallel, the parties have entered into a framework agreement for supplier payment financing, establishing a supply chain finance program with a limit of up to USD 2.4 billion. The structure enables suppliers to receive discounted payments directly from participating banks and factoring institutions, including ahead of contractual due dates.
The Norton Rose Fulbright team included Warsaw-based Partner Grzegorz Dyczkowski and Counsels Jacek Smardzewski and Krzysztof Gorzelak, with further lawyers in London also advising.
The White & Case team included Warsaw-based Partner Grzegorz Abram and Associates Magdalena Bachleda-Ksiedzularz, Marlena Skowronska, and Maria Halasa, Prague-based Partner Jonathan Weinberg, as well as further lawyers in London.
