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CMS Advises Bank Gospodarstwa Krajowego on the Issue of Bonds in Support of Ukraine

International law firm CMS has advised Bank Gospodarstwa Krajowego (BGK) on a EUR 600 million bond issue related to supporting Ukraine.

The bonds were issued by BGK on behalf of Aid Fund, created by BGK, and acquired by the European Investment Bank (EIB). The bond issue is part of an effort to support Ukraine, based on the ”Act on supporting Ukraine” of 12 March 2022 (on supporting Ukraine in relation to the armed conflict in the country).

An important element of the project is the involvement of officials responsible for parts of government spending, and other parties authorised by the Prime Minister in Poland, in providing and monitoring support for Ukrainian citizens.

“From the first day of Russia’s invasion, Poland’s support for Ukraine and Ukrainians has been immediate, firm, and unreserved,” said Vitaliy Radchenko, Managing Partner at CMS Cameron McKenna Nabarro Olswang Kyiv. “CMS is a global family, and we congratulate our Warsaw office on its role in this important bond issue that will ensure the government of Ukraine is able to provide vital services to Ukrainians during the tough times of war with Russia.”

CMS advice included reviewing the proposed structure of the bond issue, negotiating the issue documentation, and assisting with meeting certain conditions precedent to the disbursement of funds by the EIB.

The CMS team was led by Michał Śmiechowski, assisted by Przemysław Kopka and Marcin Krzemien (Banking and Finance).

For further information, please contact:

Darina Gordienko
E: darina.gordienko@cms-cmno.com
T: +380 44 3913377


About CMS Cameron McKenna Nabarro Olswang Ukraine

Ukrainian team of CMS Cameron McKenna Nabarro Olswang has been fully operational since the war and provides its services from several locations including in Budapest, Kyiv, and western Ukraine.

About CMS

Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With more than 70 offices in over 40 countries across the world and more than 4,800 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Competition & EU, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate & Construction.

For more information, please visit cms.law

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