Bold claim: White & Case helps LPP secure a groundbreaking PLN 13.5 billion financing package that reshapes corporate lending in Central & Eastern Europe. And this is the part most people miss: it’s not just a loan, it’s a multi-faceted financing strategy designed to refinance existing debt, support ongoing operations, fund capital expenditures, and boost logistics infrastructure through an innovative payables financing program. Here’s the full picture.
White & Case LLP advised LPP S.A. on a comprehensive loan and payables financing package totaling approximately PLN 13.5 billion (about €3.2 billion). The financing was arranged by a consortium of 21 banks, comprising both Polish and international institutions.
Key components of the deal include:
- A senior facilities agreement featuring a revolving facility of up to PLN 2.8 billion. This facility targets the refinancing of LPP’s current indebtedness while also supporting ongoing operations and future working capital needs.
- A capex facility of up to €505 million dedicated to refinancing existing debt and financing the development of LPP’s logistics infrastructure, enabling smoother supply chains and distribution.
- An innovative payables financing program with a framework capacity of up to US$2.4 billion. The program encompasses framework agreements with banks or their affiliates and bilateral arrangements with institutions whose platforms will support the program. This structure enables LPP’s suppliers to request receivables discounting on approved invoices, improving supplier liquidity and supply chain resilience.
LPP is a Polish family-owned group and one of the fastest-growing apparel brands in Central & Eastern Europe. The company operates five fashion brands and markets its collections in 44 countries through both stores and e-commerce platforms.
The White & Case team leading the deal included partners Grzegorz Abram (Warsaw), Jonathan Weinberg (Prague), and James Hardy (London); counsel Catherine West (London); and associates Magdalena Bachleda-Księdzularz, Marlena Skowrońska, and Maria Hałasa (Warsaw), as well as Mark Oslizlok, Minna Horwitz, and Caglar Senol (London).
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