Capital Markets: Poland

THE FIRM This practice is singled out for its exceptionally high-quality work and broad expertise, particularly in debt and equity capital markets. Key highlights include acting for the Polish State Treasury on a USD1.5 billion notes issuance. It also continues to advise the Ministry of Treasury and Bank Gospodarstwa Krajowego on the PLN347 million privatisation of Mennica Polska. 

Sources say: "Its experience and skill are very impressive."

KEY INDIVIDUALS Piotr Lesinski is "one of the best debt capital markets lawyers in Poland," both clients and peers agree. He is praised for his "profound understanding of the market and his excellent negotiation skills."

The masterly Zbigniew Mrowiec is recommended as "a great equity capital markets adviser; he is extremely competent and knowledgeable." 

Arkadiusz Pedzich is noted for his "solid performance in debt capital markets." His additional expertise in banking and finance is a bonus, confirm clients. 

Bartosz Jagodzinski is "a very sensible practitioner," say sources. He is a renowned derivatives specialist. 

THE FIRM This standout group is praised for its strong performance in cross-border transactions, and is highly active in both equity and debt capital markets. It was recently instructed by ING Bank London, silkroutefinancial and ING Securities / Nova Kreditna Bank Maribor on the EUR104 million public offering and dual listing of shares in the Slovenian Nova Kreditna Banka Maribor. It also assisted Bank Gospodarki Żywnościowej with an EUR80 million IPO in Poland and a Rule 144A private placement offering abroad. 

Sources say: "The team is extremely efficient and always finds solutions." "It offers commercial acumen, prompt advice and a proactive approach."

KEY INDIVIDUALS Konrad Konarski is "a talented performer in equity capital markets," sources say. 

Jakub Celinski is noted for his "commitment, hands-on approach and excellent understanding of the Polish business environment." His recent work includes advising UniCredit on the EUR75 million IPO of Fortuna Entertainment Group, with public offerings in Poland, the Czech Republic and Slovakia, and stock exchange listings in Prague and Warsaw.

THE FIRM This relatively compact group is highly regarded for the depth of its experience in equity capital markets. Key mandates include acting for KBC Securities Oddział w Polsce on the underwriting of Benefit Systems' IPO.

Sources say: "A young and energetic practice that offers high-quality output."

KEY INDIVIDUALS Department head Ludomir Biedecki is the main point of contact.

THE FIRM This leading group earns praise for its high-profile debt capital markets instructions. Recent mandates include acting for Standard Bank on the EUR100 million notes issuance by Koleje Mazowieckie Finance. 

Sources say: "A top law firm when it comes to debt capital markets."

KEY INDIVIDUALS Grzegorz Namiotkiewicz is widely perceived as "one of the most prominent advisers in debt capital markets." 

Andrzej Stosio impresses market observers with his "creative thinking and solution-driven approach." He is noted for his derivatives expertise.

Marek Sawicki is a young and talented equity capital markets practitioner.

THE FIRM This skilled team is valued for its advice on debt capital markets. It was recently instructed by Polish Airports State Enterprise in a PLN130 million bond issuance programme, and advised EIB on the PLN800 million financing of trains to be purchased by PKP IC. 

KEY INDIVIDUALS Robert Dulewicz is recommended for his "pragmatic and solution-driven approach." He headed the firm's representation of Polish Airports State Enterprise in its bond issuance programme. 

Marcin Bartczak is another valuable member of the team and a renowned derivatives specialist.

THE FIRM This team is noted for its high-quality advice on equity capital markets, and is considered one of the market's strongest local players. Clients and peers commend its pragmatic approach and full-service capabilities, as well as its thorough understanding of the Polish business environment.

Sources say: "It has maintained a consistently excellent performance over the years."

KEY INDIVIDUALS Department head Andrzej Foltyn is well known for his long-standing experience in equity capital markets.

THE FIRM This mid-sized team is particularly skilled in equity capital markets. It advises on financial transactions, securities and management options.

KEY INDIVIDUALS Leszek Koziorowski leads the department and is renowned for his securities expertise.  

THE FIRM On May 15th 2012 the entire team from Dewey & LeBoeuf LLP in Warsaw joined Greenberg Traurig, and commenced operations under the name Greenberg Traurig Grzesiak. The Warsaw outpost of Greenberg Traurig is its first in Eastern Europe. All clients and work highlights mentioned in our editorial took place whilst the firm was operating as Dewey & LeBoeuf.

This team shows outstanding equity capital markets expertise. It is a favourite among big-ticket clients such as BRE Bank, Citi, Deutsche Bank, ING, Kulczyk Oil Ventures and PZU, and recently advised UniCredit CAIB on the PLN445.5 million IPO of Open Finance.

Sources say: "There are very few firms in the market that are truly capable of handling complex equity capital markets transactions – this is one of them."

KEY INDIVIDUALS Jaroslaw Grzesiak is valued for his "exceptionally pragmatic approach and strong track record." He led the Warsaw team in advising Polish insurance giant PZU on its PLN8 billion IPO. This was carried out with the London office. 

Ireneusz Matusielański is a "very reliable adviser with good attention to detail and a client-oriented approach," say sources.

Lukasz Pawlak is recommended for his "excellent technical skills." 

Daniel Kaczorowski is increasingly active in corporate transactions.

Clients describe Rafal Sienski as "a hard-working lawyer." 

Piotr Szelenbaum is regarded as "a talented and solution-driven practitioner."

Since publication, Piotr M Szelenbaum has joined White & Case P. Pietkiewicz, M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.

Since publication, Daniel Kaczorowski has joined White & Case P. Pietkiewicz, M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.

THE FIRM This noteworthy practice focuses exclusively on debt capital markets. It acted for ING Bank Śląski on PGE Polska Grupa Energetyczna's issue of corporate bonds, and also advised Bank Polska Kasa Opieki on the private placement of secured bonds issued by Port Lotniczy Poznań Ławica.

KEY INDIVIDUALS Piotr Zawislak is "highly visible on transactions with a foreign element," peers note. He is a growing force in the debt markets. 

Rafal Grochowski is noted for his "extensive experience" and sound judgement. He assisted Bank Polska Kasa Opieki with the private placement of secured bonds issued by Port Lotniczy Poznań - Ławica.

THE FIRM This compact team offers comprehensive advice on a wide range of equity capital markets matters. Notable highlights include representing the Polish Ministry of the State Treasury in the consultation regarding privatisation of the one of the main banks in Poland.

KEY INDIVIDUALS Andrzej Mikosz leads the practice and is the key contact for this practice area.

THE FIRM This excellent group is praised for its understanding of debt capital markets, and for its efficient, results-oriented approach. Key mandates include advising Eureko and Kappa on the EUR2.1 billion IPO of shares in PZU, and advising Citi and UBS on Bank Gospodarki Zywnosciowej's IPO.

Sources say: "Hard-working and creative." "The team is proactive, helpful and a pleasure to work with."

KEY INDIVIDUALS Jaroslaw Miller is "an extremely knowledgeable adviser," confirm interviewees, who also appreciate his even-handed approach. He is highly regarded for his broad scope of expertise, which includes great experience of the banking and finance sector as well as the debt capital markets.

THE FIRM This team earns praise for its excellent communication skills and high-quality advice. It is predominantly instructed in equity capital markets matters, and recently represented the Polish State Treasury in the sale of 54% of shares in Grupa Lotos.

KEY INDIVIDUALS Piotr Strawa heads the department and is the main point of contact.

THE FIRM This group is well regarded for its expertise in equity capital markets. It offers solid advice to small and mid-sizes companies. 

KEY INDIVIDUALS Group head Mateusz Rodzynkiewicz is the key contact.

THE FIRM This sizeable group is an undisputed leader across the entire spectrum of capital markets work. It recently assisted the Polish Ministry of the State Treasury with the PLN4 billion sale of 10% of shares in PGE Polska Grupa Energetyczna. In addition, it advised Ciech on a PLN420 million rights issue and listing on the Warsaw stock exchange.

Sources say: "Outstanding practice." "Consistently excellent quality and execution."

KEY INDIVIDUALS Anna Frankowska is "admirably versatile, business-savvy and vastly experienced," market interviewees enthuse.

Marcin Chylinski is "a fantastic lawyer," clients say. He is a leader in the equity field and recently acted for the Polish Ministry of the State Treasury in the EUR250 million IPO and listing of Bank Gospodarki Zywnosciowejon on the Warsaw stock exchange.

Pawel Rymarz is highly regarded for his broad expertise. He assisted Polish Television Holding with its EUR260 million offering of senior secured notes.

Pawel Zdort is described as one of the most visible practitioners in the field of equity capital markets.

Clients note Lukasz Gasinski for his "in-depth understanding of equity capital markets." 

Equity capital markets is a core strength of Rafal Zwierz's practice. 

Jacek Zawadzki is considered a strong equity capital markets adviser.

THE FIRM This well-established group remains active in both equity and debt capital markets, and sources highlight its talented lawyers and excellent communication skills. The team advised Deutsche Bank as an underwriter on the EUR500 million rights issue of BRE Bank.

Sources say: "An extremely helpful team." 

KEY INDIVIDUALS Department head Marcin Studniarek assisted coal mining company Jastrzębska Spółka Węglowa with its IPO on the Warsaw stock exchange. He is noted for his "in-depth understanding of the market."