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.