CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Dentons has advised a consortium of Romanian banks, including Alpha Bank Romania, Banca Comerciala Romana, BRD - Groupe Societe Generale, and Raiffeisen Bank Romania, on the issuance and private placement of municipal bonds by the Bucharest Municipality.
BPV Huegel has advised RWA Raiffeisen Ware Austria Handel und Vermoegensverwaltung eGen and its acquisition holding on the financing and completion of the purchase of approximately 47.53% of RWA Raiffeisen Ware Austria AG shares from BayWa AG for EUR 176 million. Schoenherr advised RBI as the financing bank. FPS Fritze Wicke Seeling reportedly advised RWA eGen as well. Jones Day's Munich office reportedly advised BayWa AG.
Dentons and its Turkish affiliate BASEAK have advised Ceyhan Terminal Hizmetleri on the construction, development, and financing of a greenfield terminal in Ceyhan, Turkiye, with financing provided by ING Bank, Banco Bilbao Vizcaya Argentaria, and Turkiye Vakiflar Bankasi. Clifford Chance and its Turkish affiliate CE Partners reportedly advised the banks.
In Hungary, foreign currency-based loan contracts became popular in 2006, as they were available at significantly lower interest rates than their forint-based counterparts. However, during the 2008 financial crisis in Hungary, debtors who had previously signed a foreign currency loan contract (most typical case was the Swiss franc loan), found themselves in an extremely difficult situation, due to exchange rate fluctuations and the crisis. Many families' repayments have tripled, leading to mass foreclosures.
Zepos & Yannopoulos has advised the entities managed by Bracebridge Capital on the securitization of the Frontier III portfolio, a EUR 700 million non-performing loan portfolio originated by the National Bank of Greece.
Dentons has advised Helaba Landesbank Hessen-Thueringen and PBB Deutsche Pfandbriefbank on the five-year extension of a EUR 100 million financing facility originally granted in 2018 to Globalworth. Greenberg Traurig advised Globalworth.
Norton Rose Fulbright, its Turkish affiliate law firm Pekin Bayar Mizrahi, Kinstellar, and Havel & Partners have advised Benefit Systems on a PLN 1.775 billion (approximately EUR 414 million) financing package extended by Santander Bank Polska and Bank Gospodarstwa Krajowego to support the full acquisition of Mars Spor Kulubu ve Tesisleri Isletmeciligi. A&O Sherman reportedly advised the lenders.
