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Norton Rose Advises Benefit Systems on PLN 205 Million Financing

Norton Rose Advises Benefit Systems on PLN 205 Million Financing

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Norton Rose Fulbright has advised Benefit Systems S.A. on a PLN 205 million long-term financing granted by the EBRD and Santander Bank Polska S.A. for debt refinancing and investment purposes. Clifford Chance reportedly advised the banks on the deal.

Benefit Systems Capital Group is described by NRF as a provider of solutions in the area of non-wage employee benefits with the flagship product MultiSport and is one of the biggest fitness club operators in Poland. The company has been listed on the main floor of the Warsaw Stock Exchange since April 2011.

According to Norton Rose, the financing may be additionally increased by up to PLN 35 million (USD 8.3 million). “The financing will enable Benefit Systems to fund capital expenditures related to the group’s organic growth, development of the MultiLife platform, acquisitions, green investments, refinancing of existing debt in the form of bank loans in Poland, and other general corporate purposes.”

Norton Rose’s team was led by Counsel Marta Kawecka and included Associate Karolina Majcher, under the supervision of Partner Grzegorz Dyczkowski.

Editor's Note: After this article was published, Clifford Chance confirmed it had advised the EBRD and Santander Bank Polska on the financing. The firm's team included Partners Andrzej Stosio and Jared Grubb, Senior Associate Anna Miernik, Associates Wojciech Wator, Zuzanna Bartczak, Genevieve Wohlfeil, and Legal Intern Aleksandra Sierac.

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