Kocian Solc Balastik, Linklaters, BLC Law Office, Paksoy, and Tsvetkova Bebov Komarevski have acted as legal counsels to Energo-Pro a.s. in its EUR 250 million Eurobond issue in London, advising on Czech, English, Georgian, Turkish, and Bulgarian law, respectively. The Joint bookrunners and the trustee were advised by Allen & Overy's London and Prague offices, Tbilisi-based BGI Legal, Boyanov & Co. in Sofia, and Istanbul-based Gedik & Eraksoy.
The Guaranteed Notes mature on May 4, 2024 and carry a 4.5 % annual coupon. The issue price is 100%. The Notes have been admitted to the Official List and to trading on the Global Exchange Market of the Irish Stock Exchange plc trading as Euronext Dublin. They are fully guaranteed on a joint and several basis by each of Energo-Pro Georgia Generation JSC, Energo-Pro Georgia JSC, Energo-Pro VARNA EAD and Resadiye Hamzalı Elektrik Uretim San.ve Tic. A.S.
According to Energo-Pro, “the net proceeds will be used for repayment of existing Group indebtedness and general corporate purposes.”
The Trustee Company is Citibank, N.A., London Branch that also served as a principal paying agent. The registrar bank was Citigroup Global Markets Deutschland AG. The joint bookrunners include BNP Paribas, Citigroup Global Markets Limited, and J.P. Morgan Securities plc.
Energo-Pro operates hydroelectric power stations in the Central and East Europe, and the Black Sea and Caucasus regions. Originally a Czech company, it expanded to Bulgaria, Georgia, and Turkey.
The Boyanov & Co. team consisted of Partners Damian Simeonov and Alexander Chatalbashev, Senior Associate Georgi Drenski, and Associate Ivaylo Angelov.
The Allen & Overy team included Partner Phil Smith and Senior Associates Peter Crossan, Petr Vybiral, Anne Low, and Michael Hossack.
The Tsvetkova, Bebov, Komarevski team consisted of Partner Nikolay Bebov and Managing Associate Damyan Leshev.
The Paksoy team was led by Partner Sera Somay and included Associates Merve Kurdak Kurtdarcan and Beril Paksoy.
Editor's Note: After this article was published, Gedik & Eraksoy informed CEE Legal Matters that it has served as a legal consultant to joint book runners and trustees: BNP Paribas, Citigroup Global Markets Limited, J.P. Morgan Securities plc. and Citibank, N.A. on Turkish law. The Gedik & Eraksoy team consisted of Partner Hakki Gedik, Senior Counsel Umut Gurgey, and Associate Dilsah Gurses.