act BSWW legal & tax advised an investment company, CVI, on a debt financing transaction involving the issue of bonds with a total value of PLN 38 million. The funds obtained by the issuer, Affiliate Gdynia, a special-purpose vehicle associated with the key management staff of the Allenort Group, served to co-finance the purchase of the real estate located at Kościuszko Square in Gdynia. The bonds redemption is scheduled for October 2026.

The planned investment project entails the construction of one or more five-storey buildings accommodating a hotel, residential apartments and retail space. The project will be implemented in the city’s most popular section, close to Gdynia Marina, the Gdynia Aquarium, the beach and the harbour, offering a view onto the iconic ships ORP Błyskawica and Dar Pomorza.

act BSWW legal & tax advised on the preparation of the issue documentation and establishment of collaterals, as well as on negotiations of the issue terms and conditions.

The transaction was handled by Piotr Smołuch (Managing Partner, Head of the Bonds) and Sebastian Sury (Partner), supported by Kornelia Walczak (Senior Associate) and Edyta Krzepicka (Associate).

CVI is an independent investment firm operating since 2012, focusing on investments in Central and Eastern Europe. CVI manages 7 investment funds with a total AUM of almost PLN 4 billion (as of December 2020). CVI provides flexible financing solutions for SMEs that address a wide range of capital needs (e.g. capital expenditure, working capital, LBOs, refinancing, recapitalizations and restructurings).

Upper Finance was responsible for obtaining the financing.

act BSWW legal & tax provides comprehensive debt financing advisory services. The team has conducted over 500 debt financing transactions with a total value of almost PLN 7 billion.