Dentons has advised the American Heart of Poland (AHP) Group on PLN 1.57 billion (approximately €365 million) facilities to finance potential acquisitions and organic growth of AHP Group. It is the largest financing in the Polish healthcare sector with a sustainability-linked loan (SLL) component.
The financing was provided by a consortium of five lenders, comprising BNP Paribas Bank Polska, Bank Pekao, mBank, Citi Handlowy and PKO Bank Polski, where mBank acted as agent and security agent and BNP Paribas Bank Polska acted as sustainability coordinator. It provides term facilities for the refinancing of existing debt, capex and acquisition facilities for the continued growth and development of AHP Group (including bespoke acquisition facilities for certain prospective targets) and a revolving credit facility with borrowing base components.
The financing also allows AHP Group to incur additional “second lien” indebtedness and vendor loan subordinated debt.
Dentons’ legal advice involved comprehensive support to AHP Group including drafting, negotiating and executing the finance documents, which are governed by English law.
“The financing serves as confirmation of AHP's strong market position and represents a significant milestone in our continued organic growth and acquisition plans. We are happy to have had the Dentons team on our side, assisting us throughout the entire financing process – from deal structuring to the drafting of finance documents and closing”, said Adam Szlachta, President of the Management Board and Financial Director at AHP.
Counsel Paweł Długoborski led the project, while partner Mark Segall supervised the team, which also included senior associate Łukasz Błaszczak and associate Weronika Łakoma. Partner Tomasz Zwoliński advised on Polish law matters.
The AHP Group is an independent, leading provider of healthcare related to civilization diseases (including cardiovascular care) in Poland and the region, within the public health system, with over 20 medical centers across the country.