Kinstellar is pleased to announce that it has successfully advised a consortium of Hungary’s OTP Bank PLC, its Bulgarian subsidiary, DSK Bank, and Eurobank Bulgaria on a landmark EUR 133 million senior loan facility to Business Park Sofia — the largest business park in CEE and the first of its kind in Bulgaria. The loan is to be used for debt restructuring and the construction of a new 20,000m2 office building.
OTP Bank PLC acts as the facility agent, and DSK Bank EAD is the account bank for the transaction.
Our work included comprehensive due diligence, including into the corporate status and history of the operating companies, a detailed review of the title history of the land plots and the 14 buildings located in the Business Park, analysis of zoning and planning issues, and the review and analysis of lease agreements, existing financial arrangements and other material contracts.
Our involvement also included drafting and negotiating the complex facilities agreement as well as the security package for the financing and completion of the funding.
The Kinstellar team comprised: Antonia Mavrova (Counsel), Svilen Issaev and Mladen Minev (Managing Associates), Borislav Atanasov (Senior Associate), Vanya Evtimova and Kristina Lyubenova (Associates).