BANKING AND FINANCE. CAPITAL MARKETS

Banking & finance is at the heart of our practice. For nearly two decades, leading financial institutions, entrepreneurs and Bulgarian government or state-owned entities have chosen Spasov & Bratanov to handle their most complex and important financial transactions. We advise bank syndicates, individual lenders, agents and other finance parties from the world’s major financial centers. We also advise local and multilateral borrowers, guarantors and sponsors on all aspects of cross-border or local lending processes, including on structuring, drafting of transaction documents and provisions, perfection and release of security. Our lawyers have experience in all types of corporate, project, energy and infrastructure finance. Spasov & Bratanov is widely praised for its commercially focused approach and capability to handle complex transactions, comprehensive and quality expertise and technical excellence. In addition, over the years we have developed particularly strong expertise in consumer finance and related consumer protection legislation.

Spasov & Bratanov has an excellent capital market practice, representing key participants both on the side of issuers and on the investors, as well as financial services providers, such as investment and management firms and credit support providers on a wide variety of capital market transactions. We offer comprehensive legal advice on licensing of capital market participants- investment firms and management companies, issuers’ entry onto the securities market and their on-going compliance with securities laws, including in relation to the FSC watch-dog. We also provide regulatory advice to investors regarding financial instruments. We have particularly notable experience in tender offers and squeeze-outs of large Bulgarian public companies.

Selected mandates below:

• Acting for Citigroup N.A., London Branch (also Security Agent), BNP Paribas Fortis S.A./NV, KBC Bank N.V., CIBANK AD and Unicredit Bulbank AD as Bookrunners and Citibank International plc as Agent, in connection with the EUR 275 million (subsequently increased to EUR 400 million) secured lending for Huvepharma International BV and Huvepharma OOD (a leading Bulgarian pharmaceutical company).

• Acting for Bulgarian Energy Holding EAD (Bulgaria’s largest company by assets) in connection with its EUR 400 million Eurobond issuance.

• Acting for UniCredit Bulbank AD (also Security Agent) in connection with its EUR 15 million secured term loan financing to Charles Taylor and the private equity house The Riverside Co. for the acquisition of Fadata EAD (a leading Bulgarian insurance software vendor).

• Advising Export-Import Bank of the United States, Deutsche Bank and Citibank on a large-scale financing project for Bulgaria Sat EAD (the premiere satellite financing transaction in Bulgaria)

• Acting for KBC Bank on its EUR 70 million secured loan extended to Aliphos (a French chemical producer).

• Advising Citibank N.A. and Citibank Europe PLC regarding the transfer of the business of the Bulgarian branch of Citibank N.A. to a new branch established by Citibank Europe PLC.

• Acting for Credissimo AD, a publicly listed Bulgarian company in the business of unsecured consumer lending on various issues, including compliance, corporate and regulatory

• Acting for Energo Pro Varna EOOD in a privatization tender for the minority stakes in Energo Pro Grid plc and Energo Pro Sales plc, followed by continuous operational securities law advice and, subsequently, in the tender offer, squeeze-out and delisting of Energo Pro Grid plc., and in the tender offer and delisting of Energo Pro Sales plc.

• Acting in an international project of Clearstream, involving two legal opinions on custody services.