BANKING & FINANCE
Led by Daniela Milculescu, our banking and finance practice is one of the premier offerings in Bucharest. On the lender-side our experience has few equals in the market with a client roster which includes some of the largest banks operating in the region.
Our expertise covers the full spectrum of the banking and finance space from big-ticket syndicated loans, acquisition finance and restructuring, to the feasibility of new banking products, asset finance and regulatory advice.
Please see below for recent illustrations of our market-leading capabilities:
- We advised one of the largest banks in Europe in connection with a €2m facility granted to the local subsidiary of a European real estate development group. This was a challenging mandate with several complex Romanian law–governed components. Our advice covered issues of Romanian law relating to the facility agreement; the preparation of a set of security documents; and drafting a legal opinion on the validity and enforceability of the security package and the capacity of the borrower.
- We assisted the Romanian branch of one of the largest Dutch financial institutions with its implementation of a major consumer finance project.
- Our team advised a major Austrian bank on a multimillion-euro, cross-border facility granted to a European real estate group for refinancing the acquisition costs of a building in Bucharest. This multi-faceted mandate included advising on the facility agreement, drafting a due diligence report on ownership title and drafting a legal opinion on the capacity of the borrower.
- One of the largest financial institutions in central and eastern Europe chose our team to advise on the amendment of existing security documentation related to a credit facility granted for an important office building.
- In a major borrower-side mandate, we advised one of the most important Romanian producers of building materials on the highly complex restructuring of a €30m facility.
- We were chosen by a major German bank to advise on its obtainment of a credit facility for the development and eventual completion of a project.
- We advised an important FMCG sector player on various facilities granted by a major Romanian bank.
- Advising UniCredit Bank Austria AG, in connection to several multi-million EUR financings granted to the local subsidiaries of an European real estate group for the acquisition of a real estate asset and for refinancing of a building in the center of Bucharest, including legal advice on the facility agreement, drafting a set of Romanian law governed immovable and movable security documents, drafting a due diligence report with respect to the ownership title over the real estate and issuing a legal opinion on the validity and enforceability of the financing and security documentation.
- Advising ING in connection to a project involving an electronic signature solution.
- Advising Erste Group Bank AG, in connection to various multi-million EUR financing granted to the local subsidiary of a European real estate group for refinancing the acquisition costs of real estates in the center of Bucharest. Legal work included, inter alia, advice on the facility agreement, drafting a set of Romanian law governed immovable and movable security documents, drafting a due diligence report with respect to the borrower and its ownership title over the real estate, as well as issuing a legal opinion on the validity and enforceability of the financing and security documentation.
- Advising Banca Transilvania, in connection to various complex mandates in the competition, consumer protection, data privacy related fields.
- Advising a specialist provider of risk finance to benefit SMEs across Europe and part of an important European financial group in connection with various funding agreements concluded with the Romanian Government.
- Advising the Bucharest Stock Exchange in connection with the incorporation and preparation for authorization in Romania of a central counterparty, as a financial institution that takes on counterparty credit risk between parties to a transaction and provides clearing and settlement services for trades in foreign exchange, securities, options, and derivative contracts. Legal assistance includes also assisting the client in relation to the authorization of the Romanian central counterparty with the National Bank of Romania and the Financial Supervisory Authority.
- Advising a financial institution, part of an international reputed group, on a wide range of matters, including s in connection to the implementation of a digitalization solution for online-onboarding and an electronic signature solution and assisting the client in the negotiations with its providers in this respect.
- Advising BT Leasing Transilvania IFN SA, a member of the Banca Transilvania Financial Group, specialized in leasing operations, in connection with drafting a highly complex legal memorandum on the possibilities of BT Leasing Transilvania IFN SA to transfer ownership of a real estate to a client in the context of the conclusion between the parties of a sale contract and the financial lease.
- Advising Provident Financial Romania, a local non-banking financial institution, subsidiary of International Personal Finance Investments Limited, a leading international home credit and digital provider of consumer finance, in connection with the contemplated implementation of a digital lending model on the Romanian market.
- Advising Twisto payments a.s., a payment services institution authorized in the Czech Republic, regarding their contemplated launch of activities on the Romanian market, and all relevant legal local elements in this respect.
- Advising Aforti Finance, a member of Aforti Holding Polish financial group, in connection with the incorporation and successful authorization in Romania of a non-banking financial institution. Legal assistance included preparation of the relevant documentation for incorporation and authorization of the Romanian subsidiary company (Aforti Finance Romania) with the National Bank of Romania, as a non-banking financial institution.
- Advising Cemacon, a company listed on the Bucharest Stock Exchange, in connection with a complex hybrid loan restructuring process of its credits over 30 mln EUR granted by BCR. Legal advice included revising the entire LMA based credit documentation and related security agreements, as well as assisting the client in negotiations with the bank, until the implementation of the restructuring agreement.
- Advising Varengold Bank AG, in connection with a facility agreement in order to finalize the GreenClub Recreational project, and other related development costs of the borrower. The legal assistance included drafting a legal opinion regarding the capacity of Varengold Bank AG to have priority at the enforcement of the warranties.
- Advising Aforti Exchange Romania, a member of Aforti Holding Polish financial group, in connection to the attempted authorization as payment institution in Romania, to cover payment services and a currency exchange platform. Our legal assistance included preparing the documents required by the National Bank of Romania for obtaining clearance as a payment institution in Romania.
- Advising Beesfund, a Polish equity crowdfunding platform based in Poland, in connection to the contemplated establishment of an equity crowdfunding platform on the Romanian market. Legal advice included assessment of the business model from the perspective of the payment services legislation, preparation of a complex legal memorandum on the assessment of the business model from a legal perspective.
- Legal assistance granted to the local subsidiary of the reputed real estate group S+B Gruppe AG, in connection to the acquisition of several non-performing loans previously held by Veneto Banca SpA Bucharest Branch, in a complex transaction; legal advice included performing a due diligence on the receivables acquired, as well as assisting the client in the negotiation and execution of the receivables assignment documentation.
- Advising Xprime Investments, a Romanian company acting in the investment field, in connection to the envisaged acquisition of a majority package of the shares held in a non-banking financial institution specialized in granting mortgage loans, real estate loans, consumer loans, SME loans and financial leasing. Legal assistance included the preparation of a complex due diligence report, as well as assisting the client during the negotiations with the shareholders for the purposes of the acquisition.
- Advising Calipso SRL, an important player in the Romanian FMCG industry, with regard to multiple credit facilities granted by Banca Transilvania, with regard to the working capital and investments. Our advice included revising and amending the agreements, as well as on the related security packages.
- Advising Saphir Management & Investments SRL, a Romanian company activating on the real estate market, in connection to the negotiation and restructuring of various Mezz Loan Agreements concluded by the company with its shareholders and preparing the relevant documentation for approving a new financing round of the company.