Kinstellar has advised a consortium consisting of Hungary’s OTP Bank PLC, its Bulgarian subsidiary, DSK Bank, and Eurobank Bulgaria on a EUR 133 million senior loan facility to Business Park Sofia to be used for debt restructuring and the construction of a new office building.
OTP Bank PLC is acting as the facility agent, and DSK Bank EAD is the account bank for the transaction.
According to Kinstellar, Business Park Sofia is "the largest business park in CEE and the first of its kind in Bulgaria." The firm reports that its 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 consisted of Counsel Antonia Mavrova, Managing Associates Svilen Issaev and Mladen Minev, Senior Associate Borislav Atanasov, and Associates Vanya Evtimova and Kristina Lyubenova.
Kinstellar did not reply to an inquiry about counsel for the borrowers.
Image Source: businesspark-sofia.com