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News from Members RTPR Allen & Overy advises arrangers on CEE financing for P&P Spearhead

RTPR Allen & Overy advises arrangers on CEE financing for P&P Spearhead

by RTPR Allen & Overy April 4, 2017

RTPR Allen & Overy has advised the arranging banks on a financing for P&P Spearhead, a group engaged in the agricultural sector primarily in Central and Eastern Europe (CEE).

The Mandated Lead Arrangers of the refinancing were Erste Group Bank AG, ING Bank N.V., Raiffeisen Bank Polska S.A., Bank BGŻ BNP Paribas S.A., Bank Zachodni WBK S.A. (a member of Santander Group) and Powszechna Kasa Oszczędności Bank Polski S.A.

The RTPR Allen & Overy team was led by partner Alexandru Retevoescu, who was supported by senior associate Iana Tui and associates Bianca Eremia and Bogdan Cordos and other junior lawyers. The A&O team was led by Bratislava-based counsel Attila Csongrady and, along with the Bucharest team, included lawyers from A&O’s Bratislava, Prague and Warsaw offices.

Bratislava-based Banking and Finance counsel Attila K Csongrady, commented: “We are delighted to have been part of another successful financing in CEE and to have helped such an important business with operations around the region streamline its group-wide funding. The strength of our regional network really makes us stand out and the market is taking notice”.

Alexandru Retevoescu declared: “We are honoured to have assisted some of the largest banks in CEE in completing this deal which has raised complex legal issues which were favourably solved for both parties and the financing was granted within an extremely short timeframe. This is a new recognition of the strength of our regional banking and finance practice and proof that clients are entrusting Allen & Overy to advise them on many of the most high profile and complex deals.”

RTPR Allen & Overy’s main areas of activity are: financing, mergers and acquisitions, capital markets, insolvency and restructuring, competition, labour law, intellectual property law, litigation and arbitration, and providing advice across a range of business sectors including energy, telecommunications, finance, real estate and the pharmaceutical industry.

Selected transactions in which RTPR Allen & Overy have been recently involved are set out below:
• Canada Pension Plan Investment Board and funds managed by Cairn Capital on the EUR 180 million secured bond financing agreement of Globalworth Real Estate Investments Ltd.
• a syndicate of banks made up of Banca Comercială Română, as coordinator, BRD-Groupe Société Générale, ING Bank N.V Amsterdam – Bucharest Branch, and Raiffeisen Bank, in relation to a credit facility in amount of up to EUR 56 million granted to Med Life and other group entities
• BRD-Groupe Société Générale S.A and Komerční banka, a.s. on the approximately EUR 65 million financing extended to Portland Romania Industrial One SRL, which operates one of the largest industrial and logistic parks in Romania, for the refinancing of its existing debt in the context of the acquisition of Bucharest West Industrial Park by the Czech group CTP.
• ING Bank N.V. in connection with certain amendments to the security package related to a EUR 325 million facilities agreement granted to Euromedic Intermediate Group B.V.
• A&D Pharma Group in relation to the re-financing of their existing bank credit facilities valued up to approximately EUR 127 million, the financing being provided by a club of banks comprised of UniCredit Tiriac Bank S.A. and BRD – Groupe Société Générale S.A. and related security package.
• a syndicate of banks led by RBC Capital Markets on a financing of an acquisition of the group of companies headed by K + K Hotels GmbH.
• a syndicate of banks made up of Banca Comercială Română S.A., as coordinator, ING Bank N.V. Amsterdam – Bucharest Branch, Raiffeisen Bank S.A. and UniCredit Țiriac Bank S.A. in relation to a credit facility in amount of USD 360 million granted to KMG International N.V. (former The Rompetrol Group N.V.) for refinancing some existing debts and for covering the regular demands.
• Banca Comerciala Romana and UniCredit Tiriac Bank in relation to the EUR 75 million financing granted for the revamping of two ammonia plants owned by Azomures S.A.

Note to the editors:
1. Allen & Overy is an international legal practice with approximately 5,200 staff, including some 530 partners, working in 44 major cities worldwide.
2. RTPR was incorporated in 2004 and has been working in association with Allen & Overy since 2008. RTPR Allen & Overy has a team of 43 lawyers, including 5 partners: Costin Tărăcilă, Victor Pădurari, Alexandru Retevoescu, Mihai Ristici, Valentin Berea and also Prof Dr Lucian Mihai, Of counsel.
3. In this press release, “Allen & Overy” means Allen & Overy LLP and/or its affiliated undertakings.
4. In this press release, “RTPR Allen & Overy” means Radu Tărăcilă Pădurari Retevoescu SCA in association with Allen & Overy LLP.
5. Allen & Overy has been operating in the CEE region since 1991, when its first office opened in Warsaw. Since then, it has expanded its operations to include Prague, Budapest, Bucharest, Bratislava and Moscow, all of which are renowned in the market for top quality legal advice combined with local commercial understanding, as well as for their integrity and their pro-active approach to matters. Additionally, Allen & Overy signed an exclusive association with the leading full-service Romanian law firm Radu Tărăcilă Pădurari Retevoescu SCA (RTPR), effective from July 2008, expanding the number of CEE offices in which we are able to provide local law advice to six.

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