Allen Overy Shearman Sterling, working with its Turkish affiliate Gedik & Eraksoy, BGI Legal, and Boyanov & Co have advised J.P. Morgan as the sole initial purchaser and The Law Debenture Trust Corporation as trustee on Energo-Pro’s EUR 300 million regulation S private placement of 6.45% guaranteed notes, marking the issuer’s debut on the Vienna MTF. White & Case advised Energo Pro.
According to A&O Shearman, proceeds will be used to repay Energo-Pro’s USD 300 million 11.00% guaranteed notes due 2028. The new notes are guaranteed by subsidiaries in Bulgaria, Georgia, and Turkiye. The placement follows Energo-Pro’s EUR 750 million 8.00% guaranteed notes issued earlier in 2025, bringing the company’s Eurobond issuance this year above EUR 1 billion and reflecting a material step-down in coupon.
“We at J.P. Morgan were very pleased to provide Energo-Pro with a funding solution that allowed the company to take advantage of buoyant market conditions, refinancing its existing USD 2028 notes very cost- and time-efficiently,” said Head of CEEMEA Debt Capital Markets Stefan Weiler.
The A&O Shearman team included Prague-based Partner Petr Vybiral, Senior Associate Tomas Kirner, Senior Tax Advisor Michal Dusek, and Junior Lawyer Jan Vlcek as well as further lawyers in the UK.
The Gedik & Eraksoy team included Partner Umut Gurgey, Associate Nur Ertekin, and Junior Lawyer Dogukan Sevgi.
The White & Case team included Prague-based Partners Petr Hudec and Jan Vacula and Associate Anna Bezdekova as well as further lawyers in London.
The BGI Legal team included Senior Partner Lasha Gogiberidze and Legal Director Sopho Natroshvili.
The Boyanov & Co team included Partners Damian Simeonov and Aleksander Chatalbashev, Principal Associates Ralitsa Nedkova and Violeta Kirova, Senior Associates Georgi Drenski, Meglena Konstantinova, and Deyan Terziev, and Associate Nikol Rahmanlieva.
