PKN Orlen signs increased loan at over $2.6bn

Polish oil firm PKN Orlen has signed a Eu2.625bn five year one plus one refinancing loan. The size was increased following an oversubscription from a group of 14 banks. The initial margin is 135bp based on a leverage grid.

  • 06 May 2011

BTMU was sole co-ordinator and bookrunner. Bank Polska Kasa Opieki, Bank Handlowy w Warszawie, Bank Zachodni, BNP Paribas, BRE Bank, DnB NOR Bank, Crédit Agricole, Erste Bank, ING, Nordea Bank Polska, Rabobank Polska, Société Générale and UniCredit joined the deal.

The borrower last approached the loan market in April ...

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1 Bank of America Merrill Lynch (BAML) 3,319 10 13.16
2 Citi 2,562 6 10.16
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