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PwC Legal and Dentons on Advise on Expansion of Banking Syndicate in Varroc Lighting Systems Financing

PwC Legal and Dentons on Advise on Expansion of Banking Syndicate in Varroc Lighting Systems Financing

Czech Republic
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PwC Legal has advised Varroc Lighting Systems, a Czech manufacturer of headlamps, on the expansion of a syndicate of creditors which had extended the company a EUR 230 million loan. The banking syndicate was advised by Dentons.

The syndicate of lenders consisted of four large Czech banks, PwC Legal reported, and three bilateral factoring agreements.

“What was interesting about the case was the fact that the original banking syndicate was expanded from two to four and the number of factoring companies from two to three," explained PwC Legal Attorney at Law Daniel Pikal, who led his firm's team on the deal. "We thus had to unify the terms with a total of seven entities of the creditors’ party."

Dentons's team included Partner Daniel Hurych and Associate Jan Hrivnak.

Editor's Note: After this article was published CEE Legal Matters learned that the full banking syndicate consisted of Komercni Banka, Ceska Sporitelna, Ceskoslovenska Obohodni Banka, and Raiffeisenbank.

Czech Republic Knowledge Partner

JŠK, advokátní kancelář, s.r.o. (JŠK) is a medium-sized law firm based in Prague providing a comprehensive range of commercial legal advisory services in the Czech Republic. Our team consists of almost 30 lawyers, five of whom are partners with many years of experience from leading international law firms. We advise local and international clients from banking, insurance and various industry sectors, boast a respected projects practice, and work for the public sector at the federal and municipal level.

Ever since it was founded in 2004, JŠK has striven for the epitome of professionalism, expertise and ethical integrity. We continuously seek to surpass what large global law firms can offer and to give our clients a personal approach. All mandates are equally important to us regardless of size as we guide clients through both complex and seemingly routine matters.

Our clients turn to us for advice when implementing their business plans across all areas of commercial law. We are proud members of PONTES: the CEE lawyers, a unique network of law firms through which we provide services not only in the Czech Republic but also in Austria, Bulgaria, Hungary, Poland, Romania and Slovakia.

Firm's website: http://www.jsk.cz

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