The transaction involved a new five-year programme for several private issuings of PLN-nominated short and mid-term bonds (commercial papers). The programme was agreed with ING Bank Slaski and BRE Bank (the Polish affiliate of the Commerzbank group), Bank Pekao (the Polish affiliate of the Unicredit group) and PKO Bank Polski (the largest Polish bank).

Leszek Rydzewski, a partner from FKA’s financial institutions practice, led the team advising Polkomtel. He was supported by tax partner Mariusz Aleksandrowicz.

Mr Rydzewski commented: "It was a pleasure to advise Polkomtel especially since it was the third program in which we have assisted the operator in negotiations. For our team, of particular interest was the need to take account in the documentation of the new bank requirements resulting from MIFID – Polkomtel’s programme w