Schoenherr has advised BNP Paribas S.A. Citibank NA, London Branch, and Black Sea Trade and Development Bank on Bulgarian legal aspects of a EUR 90 million syndicated credit facility extended to Oliva AD and Buildcom EOOD, as well as on the establishment of a Bulgarian security package for the facility. Herbert Smith Freehills acted as English law counsel to the banks.
According to Schoenherr, “Oliva is the biggest producer and trader of sunflowers in Bulgaria. After joining the Buildcom group in 2001, the company now leads the Bulgarian crushing market. The Buildcom group generates annual income above EUR 500 million, as more than 80% is generated by exports. The financing will support Oliva's working capital needs for operating its new sunflower and rapeseed crushing and extraction plant in the Varna region, doubling Oliva’s current production capacity and boosting its exports.”
Schoenherr’s team was led by Attorney Tsvetan Krumov.