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White & Case, TBP, and Spasov & Bratanov Advise on Energo-Pro's EUR 300 Million Bond Issuance

White & Case, TBP, and Spasov & Bratanov Advise on Energo-Pro's EUR 300 Million Bond Issuance

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White & Case and Eversheds Sutherland member Tsvetkova Bebov and Partners have advised Energo-Pro on its EUR 300 million issuance of senior unsecured notes due 2035. Spasov & Bratanov and Clifford Chance and its Turkish affiliate Ciftci Attorney Partnership advised initial purchaser Goldman Sachs & Co and guarantor DFC. White & Case Turkish affiliate GKC Partners and Georgia's BLC Law Office reportedly also advised the issuer. Georgia's Business Legal Bureau reportedly advised the initial purchaser as well. Alston & Bird reportedly advised the trustee.

Energo-Pro is a hydropower operator, distributor, and supplier of electricity in Central and Eastern Europe and the Black Sea region. It operates a portfolio of 34 hydropower plants in Bulgaria, Georgia, and Turkey and owns and operates electricity distribution networks in Bulgaria and Georgia. It is also investing in the development of new hydropower projects in Colombia. 

According to White & Case, the notes benefit from a guarantee by the US International Development Finance Corporation, an agency of the United States government. 

The White & Case team included Prague-based Partner Eva Svobodova and Associates Erik Illmann, Jan Vacula, and Denisa Trpisovska as well as further lawyers in New York and London. 

The Tsvetkova Bebov and Partners team included Managing Partner Nikolay Bebov, Partner Damyan Leshev, and Principal Associate Yassen Spasov. 

The Spasov & Bratanov team included Partner Vassil Hadjov, Counsel Nadia Hadjova, Senior Associate Ina Raikova, and Associate Krasimir MItkov.

Editor's Note: After this article was published, Clifford Chance confirmed it had advised initial purchaser Goldman Sachs & Co and guarantor DFC. The firm's team included Prague-based Partner Milos Felgr, Counsel Petr Sebesta, Senior Associates Hana Cekalova and Vladimir Rylich, and Lawyer Ondrej Steco; Istanbul-based Partner Sait Eryilmaz, Senior Associate Ali Can Altiparmak, Associates Pelinsu Demircan and Sida Ozler, and Trainees Bilgesu Cakmak and Tuba Akgiray; as well as further team members in London, New York, and Washington DC.

This article was updated on August 9, 2023, to correct an error in the list of firms working on the deal.

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu

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