Orban & Perlaki Attorneys has represented Pannonia Ethanol as the borrower in a EUR 135 million refinancing transaction. CMS and Chadbourne & Parke advised the new and existing lenders, respectively.
According to OPL, Pannonia Ethanol — which processes 1 million tons of maize annually, producing fuel grade bioethanol and GMO free animal feed — is among the largest ethanol facilities in Europe.
The deal structure involved US EXIM and OPIC as exiting senior lenders, Hungarian EXIM, and Cordiant Emerging Loan Funds as remaining senior lenders, and Hungarian commercial banks K&H Bank, Budapest Bank, and Raiffeisen Bank as new senior lenders.
The OPL team advising Pannona Ethanol was led by Partner Gabor Kovacs and included Associate Nora Szucs.
The CMS team assisting K&H Bank, Budapest Bank, and Raiffeisen Bank as the new senior lenders was led by Partner Erika Papp, Senior Counsel Csongor Tompa, and Lawyer Linda Al Sallami.
The New York-based Chadbourne team advising US EXIM, OPIC, Hungarian EXIM, and Cordiant Emerging Loan Funds included Partner Todd Alexander and Associate Shellka Arora.