DGKV acted as local counsel to the Export-Import Bank of China (CEXIM) in relation to USD 102 million shipping financing extended to certain subsidiaries of Navigation Maritime Bulgare AD (NAVIBULGAR®) – the largest shipping operator of Bulgaria. The financing relates to the purchase of 6 new shipping vessels by the Navigation Maritime Bulgare Group, part of the new replenishment of its fleet. Navigation Maritime Bulgare AD is the successor to a shipping company established in 1892. The company has over a century-old tradition and experience in the shipping industry.
DGKV advised on matters of Bulgarian law related to the loan agreement and the various securities thereunder, including the guarantee and the share charges governed by English law provided by Navigation Maritime Bulgare AD and the accounts pledges governed by Bulgarian law provided by the borrowers. DGKV’s team was led by Partner Georgi Tzvetkov assisted by Associate Lora Aleksandrova, who advised CEXIM on all aspects of the transaction and coordinated the team work.