International law firm CMS has advised Volkswagen Financial Services Poland on a bond programme value increase up to a new total of PLN 5 billion, secured by a corporate guarantee from a Volkswagen Group entity.
Volkswagen Financial Services Poland is part of an international group whose business includes car finance and service as well as insurance and banking. The bonds were issued both in Poland and abroad. Given the location of the guarantor’s registered office, the engagement of CMS teams in Poland and in Germany was a particularly important aspect of the project.
CMS was involved in developing the programme’s new structure, in addition to negotiating the provisions of the programme documents with five dealer banks. It also provided support in the bond issue under the increased-value programme up to a total of PLN 410 million.
The CMS team was led by Michał Śmiechowski, with support from Przemysław Kopka and Michał Horelik (Banking & Finance), and Philipp Melzer (Frankfurt).
