Banking & Finance

 

Recent matters DGKV’s Banking & Finance team has worked on include:

• Advised a Citigroup Global Markets-led consortium of managers on the Bulgarian law aspects of the international placements of Eurobonds issued by the state-owned Bulgarian Energy Holding:  A 2018 issuance of EUR 400 million Eurobonds followed by two tap issues of EUR 150 million and EUR 50 million Eurobonds dually listed on Euronext Dublin and the Bulgarian Stock Exchange, and one 2021 issuance of EUR 600 million 2.45 % Eurobonds listed on Euronext Dublin.
• Advised joint lead managers J.P. Morgan Securities plc, BNP Paribas, Citigroup Global Markets Limited, and UniCredit Bank AG on the Bulgarian law aspects of the 2020 update of the Republic of Bulgaria’s Global Medium Term Note Programme (which increased from EUR 8 billion to EUR 10 billion in 2020) and the concurrent issuance by the Republic of Bulgaria of EUR 2.5 billion sovereign bonds.
• Advised Blantyre Capital Limited, BlackRock, EBRD, and the Bulgarian Development Bank on the restructuring of Bulsatcom EAD, the leading satellite TV provider in Bulgaria.
  
  
• Advised UniCredit Bulbank AD in its capacity as agent and arranger and a syndicate of four Bulgarian lenders on a EUR 70 million revolving credit facility extended to a Bulgarian producer of copper materials.
• Advised a syndicate consisting of Unicredit Bulbank AD, DSK Bank AD, and United Bulgarian Bank AD on the financing of MAXCOM EOOD, Chipolino EOOD, and MAXBIKE EOOD (the “Maxcom Group”). The transaction is notable both for its scale and for its complexity, due to the various types of facilities involved and an international public financial institution’s unfunded participation stake.
• Advised ICBC International Finance Limited as Bulgarian-law counsel on USD 66,220,000 ship financing extended to the Navibulgar group.
• Advised IFC on the restructuring of a long-term project financing extended to a leading steel manufacturer in Bulgaria.
• Advised the China Development Bank on four financing facilities, amounting to approximately EUR 200 million, extended to 24 solar power projects in Bulgaria.
• Advised Single Resolution Board (SRB) on the legal aspects and procedures for the granting of collateral over the assets of a financial institution to whom the SRB has granted liquidity support as part of a resolution tool under the Single Resolution Mechanism Regulation.
• Advised Portigon AG in respect of the Bulgarian law aspects of the transfer of loans in a large international syndicated financing to AES MARITZA EAST thermal power plant.