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News from Members RTPR Allen & Overy advises EBRD and ING Bank Romania in the EUR 96 million financing for CTPark Bucharest

RTPR Allen & Overy advises EBRD and ING Bank Romania in the EUR 96 million financing for CTPark Bucharest

by RTPR Allen & Overy March 26, 2018

RTPR Allen & Overy has advised European Bank for Reconstruction and Development (EBRD) and ING Bank N.V. Amsterdam - Bucharest Branch (ING Bank Romania) in a 96 million Euro financing for CTPark Bucharest logistics park located on the A1 Bucharest-Pitesti motorway and owned by CTP Group, one of the most active investors in industrial and logistics spaces in Romania.

The RTPR Allen & Overy team was made of Alexandru Retevoescu (Partner), Cosmin Tilea (Counsel), Alexandru Coraș (Associate) and Andrei Lupu (Associate). Along with the Bucharest team which coordinated the legal assistance, a multijurisdictional team of Allen & Overy lawyers from Warsaw, Prague, Amsterdam and Luxembourg offices assisted on the project.

Cosmin Tilea (Counsel at RTPR Allen & Overy) declared: “I would like to thank our clients for putting their trust in our team for this financing granted to CTP Group and I hope we will have the chance to work together on other future projects as well. It was an interesting and complex transaction, and its completion, successful for all parties involved, makes us happy and honoured.”
RTPR Allen & Overy’s Banking & finance practice is one of the most appreciated practice areas in Romania, a fact which was reconfirmed by its constant positioning on the top tier in the “Banking, Finance & Capital Markets” section of the prestigious international legal directory Legal 500 and in the same band 1 in the “Banking” section of IFLR1000.

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 capital markets transactions in which RTPR Allen & Overy have been involved are set out below:

  • Raiffeisen Bank International AG and Raiffeisen Bank SA (Romania) on a financing of up to EUR49.4m granted to a Romanian subsidiary of CTP Group for the development of a logistic park near Bucharest, Romania
  • Raiffeisen Bank SA (Romania) on the restructuring of a financing of up to EUR16.2m and extension of a new financing of up to EUR7.6m to a Romanian real estate developer, CTP Group, for the development of a logistic park near Cluj Napoca
  • EBRD on a USD60m secured financing to SNTGN Transgaz SA Medias, the national gas transmission grid operator, for the construction of Phase 1 of the Bulgaria-Romania-Hungary-Austria pipeline/corridor (BRUA project)
  • a syndicate of banks led by Raiffeisen Bank International AG in the context of the extension and certain amendments put in place in relation to Alro financing arrangements of USD167m
  • Banca Comercială Română on the EUR50m financing extended to Kronospan Sebes (Romania) for the refinancing of its existing debt
  • EBRD on the EUR10m loan to Calihory Group operating under the DONA brand, one of Romania’s leading retailers and suppliers of pharmaceuticals, to finance the expansion and refurbishment of the company’s network and the construction of a new warehouse
  • the arranging banks, 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. on a EUR177m financing for P&P Spearhead, a group engaged in the agricultural sector primarily in Central and Eastern Europe

Note to the editors:
1. Allen & Overy is an international legal practice with approximately 5,400 staff, including some 554 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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