Banking & finance
Banking & Finance is one of our main areas of practice driven by our outstanding expertise in structuring complex financings. We are renowned for being one of the leading law firms in guiding banks, corporations and financial institutions on a wide range of banking work including syndicated loans, structured finance, acquisition finance, asset finance, project finance, securitisation, derivatives, shipping finance, telecoms finance and international securities work. We regularly act for all the major banks and finance providers as well as for a number of borrowers. We have acted for high-profile international and domestic banks, creditors, debtors and underwriters, as well as for developers, financial institutions and syndicates on the financing of infrastructure and industrial projects. We have also gathered substantial expertise in regulatory field.
Our recent instructions include:
- Assisting JP Morgan Chase Bank, N.A., Tokyo Branch in connection with a JPY 17,000,000,000 facility agreement previously granted to Qualicaps Co.Ltd. Our services included assistance in drafting and negotiating the security agreements concerning the Romanian subsidiaries of Qualicaps Co. Ltd., including advising on security mechanisms and rendering legal opinion on the security structure, as well as on registration and perfections procedures.
- Advising Holdingmaatschappij Damen B.V in connection with EUR 651,000,000 syndicated loan granted by ING Bank N.V., ABN Amro Bank N.V. and Cooperatieve Centrale Raiffeissen-Boerenleenbank B.A. to the client and its group companies (including the Romanian subsidiary).
- Assisting the Canadian Imperial Bank of Commerce in connection with the credit agreements governing a 364 day revolving term credit facility of up to US$ 500,000,000 and a four-year revolving term credit facility of up to US$ 500,000,000, both available to Celestica Inc. and certain of its subsidiaries.
- Advising Gabriel Resources, a top Canadian-based mining corporation, in relation to negotiating of EUR 500,000,000 credit facility aimed at financing the mining investment project for the exploration and exploitation of the biggest gold and silver mining site in Europe: Rosia Montana (Romania). The Rosia Montana mining project is deemed as the biggest foreign investment in Romania to date, our firm being retained as lead legal counsel for handling all financing legal matters in relation to the project, including drafting and negotiating the related documentation advising on security mechanisms and rendering legal opinions on the transaction.
- Advising the European Investment Bank (E.I.B.) in connection with the structuring and negotiation of the EUR 370,000,000 loan facility granted to METROREX S.A. for the Bucharest Metro Line 5.
- Advising Africa Israel Investment / AFI Europe in respect of the approx. EUR 234,000,000 financing from Hypo Real Estate Bank International for the development of the shopping mall Cotroceni Park (one of the biggest in Bucharest) of approx. 120,000 sqm (comprising a state-of-the-art family recreation centre, Romania’s only IMAX complemented by a 20-screen cinema complex, world-class designer and fashion brands shops and approximately 2,500 parking spaces).
- Advising CEIF Properties S.a.r.l., an investment vehicle of Central European Industrial Fund, in relation to a EUR 225,000,000 term loan facility made available by Hypo Real Estate Bank International for refinancing of the acquisition and management of the industrial real estate portfolio of the fund owned in Czech Republic, Poland, Hungary and Romania. Our assistance consisted mainly in performing an updating of the legal due diligence relating to the acquisition and operation of ASPC Domnesti Business Park, one of the real estate owned by CEIF in Bucharest Romania, as well as various assistance with the preparation of financing related documentation. CEIF is managed by a partnership created between Morley – an active asset managers, part of AVIVA Group – and Valad Property Group – an Australian property management company which recently took over Teesland iOG.
- Assisting Mizuho Corporate Bank Ltd. in connection with the USD 221,000,000 syndicated loan granted to Banca Comerciala Romana S.A. (BCR).
- Assisting Invitel Rt. in connection with the subordination of its subsidiary Euroweb Romania S.A. to a EUR 165,000,000 facility agreement previously granted to Invitel Rt. and to an indenture providing for the issuance by Magyar Telecom B.V. of an initial aggregate principal amount of EUR 142,000,000 10¾% senior notes due in 2012. Our services included assistance during the negotiation of the security agreements, including registration and perfection procedures, advising on security mechanisms and rendering legal opinions on the security structure and further amendments.
- Advising La Caixa Bank (Spain) in connection with the structuring of on various project finance deals totalling over EUR 125,000,000 via its banking branch network established in Romania. Currently retained by La Caixa Bank in connection with legal advice and negotiation of relevant financing documentation: loan financing agreement and securities-related arrangements.
- The European Investment Bank (E.I.B.) in connection with the EUR 232,000,000 loan granted to the Municipality of Bucharest for the purposes of infrastructure reabilitation and urban development (legal work rendered included reviewing and negotiating the loan documentation, advising on the security mechanisms and rendering legal opinions on the transaction).
- Advising the Anglo Romanian Bank and Romanian Commercial Bank (BCR) in connection with USD 115,000,000 long term loan granted to Grup Servicii Petroliere S.A..
- Assisting the European Bank for Reconstruction and Development (EBRD) in connection with EUR 135,000,000 loan agreement granted to two Romanian companies, Kronospan Sebes S.A. (former MDF Sebes Frati S.A.) and Kronospan Sepal S.A. (former Sepal S.A.), for the refinancing of purchase of shares, existing debts and the installation of a new production line. We reviewed the loan agreement, drafted the security package and prepared a legal opinion on the validity of the transaction.
- Advising ING Real Estate Development for the acquisition and development of various real estate projects in excess of EUR 110,000,000, including performing legal due diligence over the related projects, drafting and reviewing transaction documents, including, but not limited to sale purchase agreements, concession agreements, shareholder agreements, joint ventures.
- Lead legal counsel to Banca Transilvania in connection with the EUR 100,000,000 sale of the majority stake held in BT Asigurari. Our legal services included drafting and negotiating the transaction documents as well as addressing in a proper and timely manner all post-execution matters.
- Advising Raiffeisen Bank Romania on a EUR 100,000,000 borrowing facility granted by DZ Bank AG Deutsche Zentral-Genossenschaftsbank.
- Advising Teesland iOG with respect to a EUR 100,000,000 syndicated loan facility for the financing of the acquisition of industrial outlets in Romania. We performed extensive legal due diligence with respect to ownership of land and buildings and advised on all aspects related to the transaction, including drafting and negotiating promissory agreement, sale-purchase agreements and related documentation for the acquisition, as well as negotiation of the financing related security documents.
- Advising KBC Bank in connection with the EUR 70,000,000 successful acquisition of Romstal Leasing IFN S.A., a leading independent Romanian leasing company. The transaction involved conducting a full legal due diligence on the targets, drafting and negotiating the related transaction documents and assisting on all completion and post completion matters.
- Advising Immofinanz AG with regard to various real estate project refinancing in excess of EUR 44,000,000 made available by Erste Bank AG in relation to certain projects developed by the client in Bucharest.
- Assisting Equest Partners Limited in relation to a EUR 40,000,000 syndicated term loan facility made available by Bank Austria Creditanstalt AG and Unicredit Tiriac Bank S.A. for the development of a retail & commercial park within Vitandis Shopping Centre Bucharest. Previously, the firm advised the client throughout the acquisition process of Vitandis Shopping Centre Bucharest, the legal work including performance of legal due diligence on the real estate, focusing on the construction agreement, leases, permits and licensing, as well as drafting and negotiation of transaction documentation.
- Advising ABN AMRO with respect to the review of its credit facilities granting procedures as well as for the purposes of reviewing the complete set of banking documentation from the MiFID Directive standpoint, such us inter alia custody agreements, derivatives, terms of business, etc.
- Assisting the European Investment Fund (EIF) during the negotiation proceedings with the Romanian Government with respect to the implementation of the EUR 100,000,000 Jeremie project in Romania throughout which EIF shall manage on the behalf of the Romanian State the structural funds provided by the EU for the purposes of stimulation of the SMEs sector.
- Drafting and negotiating the agreements concluded by Biroul de Credit (The Credit Bureau), the national repository of consumer credit information, regarding the supply and implementation of the integrated sole IT system for monitoring the financial conduct of debtors, as part of their relationships with Romanian financing institutions, as well as drafting and negotiating the necessary agreements for implementing the credit scoring system in Romania, intended to be fully operational starting 2009. Our mandate also included legal advice and assistance on data protection matters, including obtaining the relevant clearences from Data Protection Authorities for transfer of historical data from the banks and, furthermore, drafting and negotiating the participation agreements to the Credit Bureau System concluded with the vast majority of banks and financial institutions.
- Assisting Fortis Bank in respect of the establishment of its banking branch network in Romania, including the preparation and structuring of the entire banking documentation to be used in the local branches activity: credit facility agreements, club-deal agreements, related-securities interests, etc.
- Advising Banca Transilvania in relation to its cross-border network extension in the Republic of Moldavia. Our mandate includes assistance in connection with the establishment of a fully licensed bank in Chisinau, rendering legal assistance in the preparation and structuring of the entire regulatory permitting process of lending and security documentation to be used in the local branch activity, as well as providing legal counsel in various other regulatory matters.
- Advising KBC Bank in connection with the establishment of its consumer finance business in Romania, including legal assistance in obtaining the required regulatory approvals, preparation and structuring of the lending and security documentation.
- Advising La Caixa Bank in connection with the preparation and structuring of the whole contractual documentation to be used in the day-to-day activity by its Romanian-based branch, as well as providing legal advice and assistance in connection with the structuring and negotiation of several lending facilities in Romania, security interests structuring and perfection included.
- Legal advice to Transfond S.A. in all legal matters, ranging from IT Law, E-Signature and Data Protection, up to Intellectual Property and related service agreements, regarding the implementation of the Electronic Banking Payment System in Romania.
- Advising Arcelor Mittal (former Mittal Steel) on loan agreements amounting to USD 500,000,000 and related security interests for Mittal Steel Galati S.A. (former Sidex S.A.) the largest Romanian steel producer, granted by financial and banking institutions such as the European Bank for Investment and Development, International Financial Corporation, HSBC Bank Plc., ABN AMRO Bank N.V., Citibank International Plc., Credit Suisse First Boston International, UBS AG, Banca Comerciala Romana (BCR), BRD - Groupe Société Générale and ING Bank N.V..
- Advising in connection with USD 200,000,000 loan agreement granted by the International Finance Corporation to Mobil Rom S.A., also involving Tomen, a Romanian telecommunications company.
- Assisting a major international syndicate of international banks in connection with a USD 140,000,000 loan facility for RAIF (the Romanian Land and Agriculture Enhancement Public Holding), arranged by Citibank International PLC for the purchase of agricultural supplies.
- Advising Arcelor Mittal (former Mittal Steel) in connection with a USD 100,000,000 syndicated loan granted by an international syndicate of banks to Mittal Steel Galati S.A. (former Sidex S.A.), the largest Romanian steel producer. The firm performed a depth review of loan documentation and advised the client on certain issues regarding the re-payment of the loan.
- Advising Raiffeisen Zentralbank Osterreich Aktingesellschaft (RZB) in connection with structuring and negotiating several loan facilities in total value of EUR 70,000,000 granted to Romanian public authorities.
- Assisting Raiffeisen Zentralbank Osterreich in connection with USD 70,000,000 syndicated loan facility granted to Rompetrol Group BV. We reviewed the loan documentation, as well as the security structure related to the transaction, drafted the security agreements, performed registration procedures, advised on security mechanisms and rendered a legal opinion on the effectiveness of the security structure.
- Advising Société Générale on a USD 55,000,000 pre-export financing facility granted to OAO OYK Yuzhkuzbassugol.
- Advising the European Bank for Reconstruction and Development (EBRD) in connection with a loan agreement concluded with Banca Comerciala Romana S.A. whereby the latter contracted a EUR 50,000,000 loan with a view to granting mortgage loans.
- Advising on the EUR 50,000,000 granted by the European Investment Bank (B.E.I) to Raiffeisen Bank Bulgaria and Raiffeisen Leasing Bulgaria as loan operation.
- Advising the European Investment Bank (B.E.I.) on a EUR 50,000,000 loan granted to the Romanian Comercial Bank (BCR) as well as on the guarantee and indemnity agreement entered by BEI with Erste Bank in view of securing the above-mentioned loan facility.
- Assisting Bank Austria Creditanstalt AG in connection with the EUR 50,000,000 term loan facility granted to Banca Comerciala Ion Tiriac S.A..
- Advising Raiffeisen Zentralbank Oesterreich AG and Raiffeisen Romania in connection with a EUR 50,000,000 syndicated loan granted to Motoractive leasing company, for financing leasing operations.
- Advising the European Bank for Reconstruction and Development (EBRD) in connection with two loan agreements concluded with Banc Post S.A. whereby the latter contracted a EUR 40,000,000 loan with a view to granting residential mortgage loans.
- Assisting Banque Nationale de Paris, a leading European bank, in connection with USD 35,000,000 loan facility granted to Transworld Fertilisers Holding S.A. for acquiring the majority interest in Azomures, the largest Romanian fertilizers producer. Our instructions included the review of the loan agreement, the security agreement and related documentation as well as a due diligence review of Azomures.
- Assisting Deutsche Bank and DB Real Estate Global Opportunities Fund III LLC, in connection with the financing of a real estate project development on 45,949.37 sqm land located in Bucharest. (including performing all elements of the due diligence process and drafting / negotiating the related transaction documentation.
- Advising Credit Suisse International in connection with various corporate and banking matters of Romanian law.
- Advising Investkredit Bank AG in connection with various corporate and banking matters of Romanian law.
- Advising Enel S.P.A. in connection with the structuring, negotiation and amendment of a complex risk guarantee scheme put in place by World Bank, Citibank and the Romanian Ministry of Economy and Finance, aimed to cover the risk of adverse changes in regulation, concerning electrivity distribution and supply activities in Romania.
- Advising Atlas Telecom Network Romania in relation to EUR 43,700,000 project finance granted to OTP Bank for the implementation and development of a new telecommunications network in Romania. Our services included legal due diligence and assistance during the negotiation of the loan agreement and the related security agreements, as well as on various amendments of the original terms.
- Advising Société Générale for securing a facility letter issued in favour of a company active in the oil industry, by means of a pledge on crude oil deposited on the Romanian territory, including legal assistance in connection with the perfection of the security interests created.
- Advising Unicredit Romania, for several multimillion Euro loan facilities granted to various local industrial companies, as well as real estate developers, including legal assistance for drafting and negotiating the loan documentations and related security transaction documents.
- Advising BNP Paribas S.A. (Suisse), the Suisse subsidiary of one of the largest international banking networks, in connection with for securing credit facilities granted to various companies active in the oil industry, by means of a pledge on crude oil and oil products deposited on the Romanian territory, including legal assistance in connection with the perfection of the relevant security interests.
- Advising OTP Bank (Hungary) in relation to the privatization of the Romanian Savings Bank (C.E.C.). The firm performed all elements of a thorough legal due diligence and assisted the client for the preparation of the purchase offer, including transaction documents.
- Advising Bank Leumi Le in relation to the USD 41,700,000 acquisition of Eurom Bank S.A. The firm advised on the sale-purchase agreement, real estate, competition issues, as well as on capital markets issues in relation to the delisting of Eurom Bank's shares from trading on the Bucharest Stock Exchange.
- Advising J&T Finance Group in connection with its proposed acquisition of Romexterra Bank. The firm performed an extensive legal due diligence on the target and assisted in the structuring and negotiation of the transaction documents.
- Advising Petromidia S.A., the largest refinery in Romania, in relation to a USD 35,000,000 restructuring loan facility. The firm has reviewed and amended the loan documentation, participated at the negotiations meetings as well as advised on the legal risks of the transaction.
- Advising the European Bank for Reconstruction and Development (EBRD) in connection with a EUR 27,120,000 loan to be granted to GTC, an Israeli-owned company in Romania, with a purpose to build a commercial center, including office buildings, hotels etc. The firm has reviewed the loan agreement, has drafted the security package and has prepared an extensive legal due diligence report targeted on property and real estate issues.
- Advising the European Bank for Reconstruction and Development, DEG - Deutsche Investitions-und Entwicklungsgesellschaft GmbH, The Netherlands Development Finance Company (FMO) and the Romanian bank Banca Transilvania S.A. in respect of four loan agreements in total value of more than USD 20,000,000 granted to one of the largest Romanian CATV companies Astral Telecom S.A. in view of the development of fixed lines telephony services. The firm has advised on the security agreements and the structure of the project.
- Advising Bank of Tokyo Mitsubishi on a EUR 25,000,000 term loan facility granted by to Banca Comerciala Romana S.A. (BCR).
- Assisting the European Bank for Reconstruction and Development (EBRD), in connection with a EUR 22,500,000 loan agreement to Banca Transilvania S.A. with the view of financing SMEs activities.
- Advising Standard Chartered Bank in connection with EUR 20,000,000 loan facility granted to Banca Comerciala Romana S.A..
- Assisting the European Bank for Reconstruction and Development (EBRD) in connection with a loan agreement in maximum amount of EUR 20,000,000 granted to Billa Invest Construct S.R.L. for the development of new Billa supermarkets, part of the international chain REWE Germany.
- Assisting the European Investment Bank in connection with the structuring and negotiation of the project finance scheme designed for the implementation of the RO Glina Wastewater Plant project in cooperation with the Bucharest Municipality.
- Advising the European Investment Bank in negotiating and implementing the project BULGARIA – Raiffeisen Bank Bulgaria Global Loan III Municipality Finance Facility and Energy Efficiency Facility with a value in excess of EUR 26,000,000.
- Advising the European Investment Bank in relation with the negotiation and implementation of the Constanta Port Infrastructure project, consisting in the funding and development of a new terminal and additional infrastructure in the Constanta Harbour.
- Retained by the European Investment Bank in connection with the structuring of the entire project finance scheme in relation to the financing of the Sibiu Airport construction and development project.
- Assisting and advising the European Investment Bank in connection with a multi-million Euro development project currently negotiated with the Constanta Water Regie Autonomme in view of refurbishing and modernizing the Constanta regional water infrastructure.
- Assisting the Netherlands Development Finance Company (FMO), in connection with a EUR 15,000,000 loan to Rompetrol Downstream, the retail division of Rompetrol Group, for the financing of the construction or acquisition of new retail outlets in Romania.
- Advising Raiffeisen Zentralbank Osterreich in coonection with a EUR 8,000,000 loan agreement granted by to TRW Automotive Safety Systems S.R.L..
- Advising Megarom (the subsidiary of Atlas Estate Investments) in connection with EUR 12,500,000 loan agreement granted by Erste Bank der Oesterreichischen Sparkassen Aktiengesellschaft.
- Assisting Société Générale in connection with USD 6,000,000 facility agreement granted to Greyridge Coal & Shipping Limited relating to a revolving trade finance facility.
- Advising Alka Co. in connection with EUR 5,600,000 loan agreement granted by Raiffeissen Bank Romania.
- Assisting Banca Comerciala Romana S.A. in connection with certain loan agreements amounting USD 16,000,000 granted by Banca Nazionale del Lavoro and Efibanca – Ente Finanziario Interbancaria SpA..
- Assisting General Electric Capital in the proposed acquisition of Banc Post S.A., the second privatization of a bank in Romania. In addition to the performance of the due diligence and drafting the necessary transaction documentation for the acquisition of the bank, we advised on the overall Romanian banking laws and regulations.
- Advising KBC Bank in connection with the privatization of Banca Comerciala Romana (BCR), the largest State-owned bank in Romania. Our mandate included the performance of an in-depth due diligence exercise on the target, drafting proposals for amending the regulatory framework, as well as the necessary transaction documentation.
- Retained in connection with the acquisition of Banca Agricola S.A. (the third largest Romanian bank), by Raiffeissen Bank Austria. We performed all aspects of the legal due diligence, drafted and negotiated the necessary transaction documentation, including the share sale and purchase agreement and the supporting transaction documentation.
- Advising Mittal Steel S.A. Roman, (former Petrotub S.A.) one of the main producers of steel and oil equipment in Romania, for performing a legal analysis concerning a proposed USD 16,000,000 loan to be granted by an international bank for the modernisation of industrial equipment.
- Assisting the European Bank for Reconstruction and Development in connection with the EUR 10,000,000 loan agreement concluded with Banca Transilvania, contracted by the latter with a view to granting mortgage loans.
- Assisting GlaxoSmithKline for an intra-group loan of USD 8,000,000 granted to Europharm.
- Advising Banca Transilvania S.A. a well-known Romanian bank on a share capital increase with the contribution of the European Bank for Reconstruction and Development (EBRD). We advised the Romanian bank in negotiations and reviewed the entire transaction documentation, including shareholders agreement, call-option agreements etc.
- Advising UniCredito Italiano, one of the most prestigious European financial groups, in relation to the acquisition of 82.5% of shares of Demirbank S.A. (Romania) and a significant shareholding of Demir Romlease S.A.. We advised on various M&A, banking and competition issues and supervised the successful completion of this transaction as well as obtained the relevant approvals and permits from the Romanian authorities.
- Advising Piraeus Bank Group in respect of the attempted acquisition of Banca Tiriac S.A. (one of the first and well established private banks incorporated in Romania. The firm has performed an extensive due diligence review and assisted throughout shares purchase agreement negotiation.
- Advising the Romanian subsidiary of Citibank, a well-known international bank, with respect to the issuance and enforcement of promissory notes and with respect to the legal effects of loan and guarantee contracts.
- Assisting The Credit Bureau (Biroul de Credit SA), the Romanian institution which collects and provides information on natural persons’ debts to financial institutions, in connection with its activity of collecting and processing data regarding banking debtors, providing advice on overall Romanian banking laws and regulations, especially on the banking issues related to the transfer of data by banks.
- Advising Piraeus Bank Group in the attempted acquisition of RoBank, including the performance of the legal due diligence review and drafting the transaction documents for the proposed transaction.
- Advising Caterpillar Financial Services, an American financial services company, in connection with all its leasing activity in Romania. We drafted and negotiated various leasing and guarantee agreements concluded in relation therewith and advised in relation to all material aspects of cross-border leasing operations, including fiscal, customs and authorizations issues.
- Advising Société Générale, a well-known French financial institution, on various legal matters in Romania, including all types of secured loans and transaction with Romanian legal entities, hard currency matters as well as other specific banking issues.
- Advising BNP Paribas, one of the largest international banking networks, on various aspects of their financial operations in Romania and in particular in respect of their trading relations with Romanian companies and other banks, especially regarding secured transactions and loans.
- Legal assistance to Deutsche Morgan Grenfell, a leading global investment bank, in relation to a custody agreement to be concluded with ING, as well as providing legal advice on the current banking legislation and other Romanian relevant laws and regulations.
- The proposed acquisition of Banca de Credit Industrial si Comercial by a leading European Bank. We performed extensive due diligence on the corporate, business and operations of the bank, as well as other specific issues.
- Advsing Banca Turco-Romana S.A., a Turkish-Romanian bank on various banking matters, such as currency operations, loan securitisation and promissory notes enforcement.
- Advising the National Bank of Greece, a leading Greek bank, in connection with a multitude of banking agreements, including credit, current accounts, deposits, bank letters of guarantee and other related agreements.
- Legal assistance to Commerzbank Capital Markets (Eastern Europe), one of the leading German financial institutions, in relation to the legal regime of offering T-bonds and T-bills in Romania.
- Advising the European Bank for Reconstruction and Development regarding its investments in various Romanian companies, including Emcom S.R.L. – a joint venture with Siemens, Romtelecom and Electromagnetica.
- Various legal opinions related to the assignment of several promissory notes, involving R.A. Romtehnica, London Forfaiting Company PLC and the Romanian Ministry of Finance.
- Advising Mital Steel Galati S.A., one of the main producers of steel and oil equipment in Romania, for performing a legal analysis concerning a proposed USD 16,000,000 loan to be granted by an international bank for the modernization of industrial equipment.
- Assisting Société Générale Lebanon, the Lebanon subsidiary of the leading French financial institution, in relation to the corporate and banking affairs of a Romanian company in respect of various domestic and international loans. Our advice was focused on the loan conditions and on minimizing and mitigating repayment terms in relation to corporate exposure.
- Assisting the State Ownership Fund and Bancorex S.A., as part of an international consortium including NM Rothschild and Clifford Chance, for restructuring Bancorex S.A., (the former largest Romanian state-owned bank) as a first step towards privatisation. The firm performed an extensive legal analysis over the non-performing assets of Bancorex, as well as over the restructuring options and their feasibility under Romanian law, with a view to clean up Bancorex’s asset portfolio.
- Assisting European Bank for Reconstruction and Development in connection with financing granted to Apa Nova, the concessionaire of the water and sewerage services in Bucharest, for the construction of a water treatment plant (Crivina). Our services related to the drafting of the security package as well as assistance in the negotiation of a direct agreement to be concluded between the Bucharest City Hall (the conceding authority), Apa Nova and the bank.
- Advising LBS Bayerische Landesbausparkasse, a major German savings bank for housing in relation to a joint-venture agreement with the Romanian state owned savings house C.E.C., for the establishment of a housing savings bank in Romania.
- Assisting Société Générale and Crédit Lyonnais in relation with a project for the establishment of an international business center in Bucharest. The firms’ advice related to project finance, loan documentation, export credit documentation, as well as the security aspects of the transaction.
- Advising Banca Comerciala Romana S.A. (BCR) with respect to various legal issues related to letters of guarantee issued by Bancorex S.A. and taken over by Banca Comerciala Romana S.A. further to the merger of these two banks.
- Advising Demirbank (Romania) S.A. in connection with corporate and banking matters in Romania. The firm was also retained for providing legal advice to Demirbank’s security company in Romania.
- Advising Bank Hapoalim in connection with the proposed acquisition of Banca de Credit Industrial si Comercial. The firm performed an extensive due diligence review on the corporate, business and operations of the bank, as well as other specific issues.
- Advising Crédit Lyonnais on a construction and development loan granted for financing the projects of a proposed joint venture between Bouygues, the City Hall of Bucharest and a local corporation.
- Assisting Piraeus Bank and Piraeus Securities for the acquisition of a participation of 78.25% and respectively 19.56% of European Securities, a Romanian financial investment services company. The transaction involved in-depth due diligence on the target, advice on obtaining clearance from the Romanian National Securities Commission and commenting on the proposed draft of the share purchase agreement.
