Kinstellar’s Budapest office has advised mandated arranger and facility and security agent Bank of China on an approximately USD 75 million loan to sponsor China National Machinery Import and Export for the construction and operation of a 100 MW photovoltaic power plant in Hungary. Allen & Overy reportedly advised the sponsor.
According to the firm, The financing was provided across two tranches with a maturity of 15 years. The project, consisting of two 49.28 MW photovoltaic power plants, will be built in Kaposvar, a city in south-western Hungary, and provide electricity to 50,000 inhabitants.
“We are delighted to have supported the Bank of China on this successful market-leading financing,” commented Kinstellar Partner Csilla Andreko. “We particularly appreciate the opportunity to have worked closely with this leading international banking group and its outstanding management team to facilitate the success of this transaction.”
The Kinstellar team was coordinated by Counsel Levente Hegedus and Senior Associate Mate Nagy and included Junior Associate Zoltan Zagyva. Andreko served as the firm’s relationship partner for Bank of China.