Djingov, Gouginski, Kyutchukov & Velichkov Law Firm has provided local Bulgarian counsel to the Export-Import Bank of China (CEXIM) in relation to USD 102 million shipping financing extended to certain subsidiaries of Navigation Maritime Bulgare AD – the largest shipping operator in Bulgaria.
The financing relates to the purchase of six new shipping vessels by the Navigation Maritime Bulgare Group. Navigation Maritime Bulgare AD is the successor to a shipping company established in 1892.
DGKV advised on matters of Bulgarian law related to the loan agreement and various securities thereunder, including the guarantee and the share charges governed by English law provided by Navigation Maritime Bulgare AD and the accounts pledges governed by Bulgarian law provided by the borrowers.
DGKV’s team was led by Partner Georgi Tzvetkov, assisted by Associate Lora Aleksandrova.