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DGKV Advises China Eximbank on Financing of Bulgarian Development Bank

DGKV Advises China Eximbank on Financing of Bulgarian Development Bank

Bulgaria
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DGKV has acted as local counsel to the Export-Import Bank of China with regard to a EUR 50 million loan facility extended to the Bulgarian Development Bank for on-lending to customers in the form of mid or short-term trade financing transactions.

According to DGKV, the funds will be used to support Bulgarian enterprises, to finance commercial operations, and to support the economic cooperation between Bulgaria and China. This is the first facility agreement between the two institutions following the Financial Cooperation Agreement they entered into in 2014, which envisages joint financing of key projects or areas.

DGKV advised on matters of Bulgarian law related to the facility agreement and the due diligence exercise of Bulgarian Development Bank, including on the matter of government support and state aide clearance. The firm's team was led by Partner Nikolai Gouginski, assisted by Senior Associate Kaloyan Krumov and Associates Dimo Staykov, Lora Aleksandrova, Vladislav Antonov, Simeon Vachev, and Vlada Tsenova.

Image source: bbr.bg

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm in Central and Eastern Europe. With 13 offices located in Belgrade, Bratislava, Brussels, Budapest, Bucharest, Chisinau, Istanbul, Ljubljana, Prague, Sofia, Vienna, Warsaw and Zagreb, as well as country desks for Albania, Bosnia-Herzegovina, Macedonia, Montenegro and Ukraine, Schoenherr provides its clients with comprehensive coverage of the CEE/SEE region. More than 300 legal professionals work across borders in both a centralized and de-centralized manner, according to the individual client’s needs and requirements. Quality, flexibility, innovation and practice-oriented solutions for complex assignments in the field of business law are at the core of the Schoenherr philosophy.

Firm's website can be found, here.

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