International law firm CMS has advised Bank Gospodarstwa Krajowego (BGK) on a EUR 600 million bond issue related to supporting Ukraine.<\/p>\n
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 \u201dAct on supporting Ukraine\u201d of 12 March 2022 (on supporting Ukraine in relation to the armed conflict in the country).<\/p>\n
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.<\/p>\n
\u201cFrom the first day of Russia\u2019s invasion, Poland\u2019s support for Ukraine and Ukrainians has been immediate, firm, and unreserved,\u201d<\/em> said Vitaliy Radchenko, Managing Partner at CMS Cameron McKenna Nabarro Olswang Kyiv<\/strong>. \u201cCMS 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.\u201d<\/em><\/p>\n 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.<\/p>\n The CMS team was led by Micha\u0142 \u015amiechowski<\/strong>, assisted by Przemys\u0142aw Kopka<\/strong> and Marcin Krzemien<\/strong> (Banking and Finance).<\/p>\n