Eversheds Sutherland Bulgarian member firm Tsvetkova Bebov & Partners acted as the single transaction counsel on TBI Bank's December 15, 2023, private placement of MREL notes maturing 2026, with a total value of EUR 10 million.
The notes are the second series of MREL instruments and follow the bank's June 2023 first EUR 10 million tranche of senior non-preferred MREL bonds due 2026 (reported by CEE Legal Matters on July 26, 2023).
According to Eversheds Sutherland, "the notes contribute to the minimum requirement for eligible liabilities of TBI Bank, as set by the Bulgarian National Bank in its capacity of resolution authority."
TBI Bank is a financial technology bank operating in Bulgaria, Romania, and Greece.
The Eversheds Sutherland team included Managing Partner Nikolay Bebov, Partner Damyan Leshev, Counsel Maria Karacholova, and Senior Associate Petar Ivanov.