Allen & Overy advised Polski Fundusz Rozwoju S.A. in connection with the financing for the construction of a 3.7 kilometre stretch of the Lagiewnicka Route, i.e. the Third Krakow Bypass.

 The project will be implemented by Trasa Lagiewnicka S.A., an SPV, using the credit facilities from the European Investment Bank and Bank Gospodarstwa Krajowego (Poland's state development bank) and a subordinated loan from a closed-end investment fund of the Polski Fundusz Rozwoju S.A. Group. The total project costs are estimated at PLN 1 billion. The route will stretch from Grota-Roweckiego Street to the intersection of Witosa, Halszki and Beskidzka Streets and will include a parallel tramway line.

The Allen & Overy team was led by partner Tomasz Kawczynski, assisted by counsel Kamil Jankielewicz, senior associate Maciej Dymnicki and associate Katarzyna Idczak.

"We are very proud to have procured the financial closing of this transaction with the participation of local-government, government and international institutions. I hope that the Lagiewnicka Route will set an precedent for future infrastructural investments by various sectors of the Polish economy. Allen & Overy's involvement confirms its position as a leading Polish law firm in the area of implementing and financing utility projects" commented Tomasz Kawczynski, a banking partner at Allen & Overy Warsaw.