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CMS Sofia advised on the EUR 110 million refinancing of the largest office building complex in Bulgaria

04/08/2020

OTP Bank, DSK Bank and Eurobank have signed a term loan facilities agreement with Business Park Sofia, owned and operated by Arco Capital Corporation, regarding the refinancing of the existing exposures. Business Park Sofia operates the largest office building complex in Bulgaria (16 buildings and more than 200,000 sq. m. build-up area), one of the most prominent locations for hosting international companies in the CEE.

An international team including lawyers from Bulgaria, Serbia, The Cayman Islands and Malta led by partner Dimitar Zwiatkow (Partner) advised the lenders on all legal aspects of the transaction. Other member of the CMS team were Marin Drinov (Associate), Ivan Gergov (Senior Associate) and Marin Sarafov (Associate) from Sofia, as well as Milica Popovic (Partner) from CMS Belgrade. The transaction was signed on 8 July 2020 and successfully closed on 31 July 2020.
 
Besides the standard finance documentation and due diligence advice, the transaction was particularly challenging because of the coordination between multiple jurisdictions and the club of lenders, as well as the ongoing global pandemic. 

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