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Elitsa Hinova

Associate

Portrait ofElitsa Hinova

Elitsa Hinova

Associate

Contact
CMS Sofia
Landmark Centre
14 Tsar Osvoboditel Blvd.
Floor 1, 2
1000 Sofia
Bulgaria
Languages Bulgarian, English, Russian, Spanish
Banking & Finance

Elitsa Hinova is an associate at CMS Sofia. As a member of the Banking & Finance team, Elitsa advises clients on banking and finance law issues in complex transactions. Her work focuses on domestic and cross-border leveraged finance, mezzanine, first/second lien and restructuring transactions, acquisition finance and club lending, acting for corporate borrowers, banks, direct lenders, and private equity sponsors. 

The main highlights of Elitsa’s work are the distinctive presence of renewable energy financing projects and real estate asset-based lending. She also advises crypto asset businesses on local regulatory framework.

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Relevant experience

  • Advising a major Bulgarian Bank on the refinancing of energy related portfolios.
  • Advising club lenders on exposure transfer and securities management.
  • Advising creditors on the refinancing of one of the largest photovoltaic power plants in Bulgaria.
  • Advised domestic entities as part of IFLR Structured Finance and Securitization deal of 2023. 
  • Advising a major bank on the debt management and restructuring of a global renewable energy company.  
  • Advising a leading international asset financing group on the cross-jurisdictional legal status of securities.
  • Advising on the real estate financing of a Bulgarian shopping centers.
  • Advising club lenders on several transactions in relation to real estate-based refinancing and securities management.
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Education

  • 2021 – LL.B., Moscow State Institute of International Relations 
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Private Equity

Elitsa has extensive experience in negotiating equity documents and various corporate arrangements as an integral part of several venture capital projects, carve-outs, consortium arrangements and disposals.

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Relevant experience

  • Advising a European venture capital company on growth investments for a domestic e-commerce platform business.
  • Advising an AI performance-tracking developer operating in the sports industry on their seed B investment round by a Bulgarian investment fund.
  • Advising a shareholder on his exit of a software interoperability company.
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Education

  • 2021 – LL.B., Moscow State Institute of International Relations 
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Corporate / M&A

Elitsa’s expertise includes advising companies on numerous M&A transactions, project developments, business restructurings and regulatory compliance matters. Elitsa also has distinctive experience with advising cross-border crypto asset services providers.

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Relevant experience

  • Advising a global health care analytics company on a $750 million acquisition of a market research group.
  • Advising a construction company on the financing and project development of a business tower.
  • Advising a European fintech company on its EU expansion.
  • Advising several clients on their cross-border expansion of their crypto asset companies, including liquidity providers and crypto exchange platforms, with respect to corporate establishment and regulatory matters.
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Education

  • 2021 – LL.B., Moscow State Institute of International Relations 
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Expertise

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13/03/2024
Crypto Tax Legislation & Law in Bulgaria
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CMS Sofia advised Elevator Ventures on the investment in a Bulgarian e-commerce...
CMS Sofia successfully advised Elevator Ventures (EV) – a venture capital firm part of Raiffeisen Bank International, on the third round of investment for CloudCart. As part of its strategy to invest and grow digital businesses in the CEE region, EV pinpointed CloudCart as the next rising star among European tech companies. CloudCart’s platform offers end-to-end solutions for SMEs growing their sales online or starting e-commerce businesses from scratch.  Our local team led by Dimitar Zwiatkow together with Ivan Gergov and Elitsa Hinova advised EV on all legal aspects relating to the conclusion of the equity documents. Settling foreign investor relationships with local businesses at times is particularly challenging due to the specifics of the national le­gis­la­tion.  Deals in the private equity and venture capital segment seem to grow in the CEE region and to become increasingly attractive for investors across various industries.
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