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EUR2.236 billion Aid Fund bonds issued to support Ukrainian refugees

The European Investment Bank (EIB) has successfully subscribed for total EUR2.236bn of five tranches of bonds issued by Bank Gospodarstwa Krajowego (BGK), with A&O Shearman providing essential legal advisory services. The proceeds from the bonds issuances have financed the Aid Fund, a fund established by the Polish state to support Ukrainian refugees in Poland. The bonds are guaranteed by the State Treasury of the Republic of Poland.

This project represents a significant milestone in the ongoing efforts to support those affected by the conflict in Ukraine. It underscores the importance of international cooperation in addressing humanitarian crises and highlights the pivotal role of international financial institutions in facilitating such support.

The transactions were led by Łukasz Walczyna, with assistance from Alicja Urbańska. The team also included Frank Mausen, David van Gaever, and Christine Laux, who provided Luxembourg law advice. Tomasz Kawczyński supervised the project. This collaboration highlights A&O Shearman's global reach and multi-disciplinary expertise, ensuring comprehensive legal support across different jurisdictions.

Łukasz Walczyna, counsel at the A&O Shearman Warsaw office, commented: "We are proud to have played a key role in this significant project, which not only supports Ukrainian refugees but also strengthens the financial cooperation between European institutions. This deal exemplifies our commitment to providing clients with strategic and comprehensive legal support in navigating complex transactions."

Frank Mausen, partner at the A&O Shearman Luxembourg office, added: "These bonds issuances are a testament to the power of international collaboration in addressing urgent humanitarian needs. Our Luxembourg teams were honoured to have contributed to such a meaningful cause."

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