ORLEN Issues US$1.25 Billion in Bonds for US Market Debut
Funding | Jan 30, 2025 | White & Case
Global law firm White & Case LLP has advised Polish multi-energy corporation ORLEN S.A. on its first bond issuance aimed at the US market. The bonds, valued at US$1.25 billion with a 6% annual coupon rate, are unsecured ten-year notes issued under Rule 144A of the US Securities Act. This issuance is a part of ORLEN's Global Medium-Term Note programme, which was updated in January 2025. The bonds are listed on the Euronext Dublin, and the proceeds will support ORLEN's ongoing operations. The issuance was organized by a consortium including Citigroup Global Markets Europe AG and other major financial institutions. The White & Case team led the advisory process, involving partners and associates from both Warsaw and London offices.
Sectors
- Energy Sector
- Financial Services
- Legal Services
Geography
- United States – The bond issuance is targeted at US investors, making the US a key geographical market for this financial transaction.
- Poland – ORLEN S.A., the company issuing the bonds, is based in Poland, highlighting its central role in the transaction.
- United Kingdom – White & Case's London office was integral in advising on the issuance, tying the UK to this financial transaction.
Industry
- Energy Sector – ORLEN S.A. is a major player in the multi-energy sector, reflecting its operations and the relevance of capital raising for such entities.
- Financial Services – The article involves bond issuance, highlighting significant activity within capital markets and financial services.
- Legal Services – White & Case LLP’s advisory role in this bond issuance is significant, showcasing legal services in financial transactions.
Financials
- US$1.25 billion – The nominal value of the bond issuance completed by ORLEN S.A.
- 6% per annum – The coupon rate attached to the new bonds issued by ORLEN.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ORLEN S.A. | Issuer | Company | ORLEN is a multi-energy corporation based in Poland, embarking on its first bond issuance targeting the US market. |
| White & Case LLP | Legal Advisor | Company | A global law firm advising ORLEN on its US$1.25 billion bond issuance. |
| Citigroup Global Markets Europe AG | Organizer | Company | Part of the consortium handling the organization of the bond issuance. |
| J.P. Morgan SE | Organizer | Company | Part of the consortium handling the organization of the bond issuance. |
| Banco Santander, S.A. | Organizer | Company | Part of the consortium handling the organization of the bond issuance. |
| Goldman Sachs Bank Europe SE | Organizer | Company | Part of the consortium handling the organization of the bond issuance. |
| SMBC Bank EU AG | Organizer | Company | Part of the consortium handling the organization of the bond issuance. |