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Elitsa Ivanova

Partner
Head of Finance

Contact
CMS Sofia
Landmark Centre
14 Tsar Osvoboditel Blvd.
Floor 1, 2
1000 Sofia
Bulgaria
Languages English, Bulgarian

Elitsa Ivanova is a dual English and Bulgarian qualified partner in the International Finance team of CMS and head of the Finance practice at CMS Sofia, with more than 15 years of professional experience in the sector. She has been advising clients active in the CEE and CIS on a  variety of transactional, restructuring and regulatory matters, with a particular focus on syndicated lending. 

Elitsa brings in-house experience having been seconded in leading financial institutions in London and Amsterdam. In 2012/2013, she completed a secondment at UniCredit Bank AG, London Branch as part of their CEE Loans Syndication Team and in 2014, another secondment at Deutsche Bank, Amsterdam Branch, working on structured commodities and trade finance transactions as part of their Loan Documentation team. 

Elitsa regularly acts as lead counsel on complex cross-border English law-governed financing transactions for a variety of clients including commercial banks, international finance institutions and corporates. She specialises in trade and structured commodity finance, and leads the CMS sector specialisation team in commodity finance.

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Relevant experience

  • UniCredit, Raiffeisen and Sberbank on USD 250 million hybrid pre-export facilities for GeoProMining, a Russian/Armenian gold mining company.
  • OTP Bank Group on its acquisition of Societe Generale subsidiaries SG Expressbank Group, Sogelife Insurance Company, and SG Banka Albania, for over EUR 600 million in several jurisdictions, including Bulgaria, Albania and Serbia. In Bulgaria DSK Bank acquired indirect control over Societe Generale Expressbank's units Societe Generale Factoring, Sogelease Bulgaria and Regional Urban Development Fund, as well as direct control over insurer Sogelife Bulgaria. The CMS Sofia Banking & International Finance team was instrumental in the due diligence process of the target Societe Generale Expressbank and assisted with the structuring and regulatory advice.
  • Major international finance institutions, in their capacity as senior lenders, on the financing of three mall operating companies in Serbia, Montenegro and Macedonia, to refinance existing liabilities and provide capex facilities to be used for the expansion and upgrade of the properties.
  • Major Greek banks, as mandated lead arrangers, and their local subsidiary banks, on the financing of the development and operation of the Sofia South Ring Mall in Sofia, Bulgaria, including development, investment and VAT facilities, and on a full security package.
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Education

  • Sofia University St. Kliment Ohridski, Law, LLM (1999 – 2004)
  • Between September 2009 – January 2010, she participated in the Building on Talent Programme of IMD, the leading business school in Lausanne, Switzerland
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12/09/2024
Real estate finance law in Bulgaria
A. Mortages 1. Can security be granted to a foreign lender? Yes. 2. Can lenders take a mortgage over land and buildings on the land? Yes. Mortgages can also be taken over the right to build a building...
28/03/2024
Bulgarian finance ministry publishes draft Introduction of Euro into the...
On 25 March 2024, the Bulgarian Ministry of Finance (MF) introduced for public consultation the long-awaited bill of Introduction of Euro into the Republic of Bulgaria Act (IERBA), which closely follows...
20/02/2024
Ministry of Finance proposes a draft bill on Credit Servicers and Credit...
The Bulgarian Ministry of Finance recently introduced for public consultation a bill for a new Credit Servicers and Credit Purchasers Act (“CSCPA”) implementing Directive (EU) 2021/2167 on credit...
13/10/2023
Security interest law in Bulgaria
Guarantees 1. Can an intercompany guarantee be granted? Security 4. Can a security interest be granted in the following type of asset? Perfection 8. In order to be enforceable against third parties, must...
23/05/2023
Sustainability KPIs in finance transactions
Sus­tain­ab­il­ity-linked financing is still in its infancy, but it is already an integral part of today's financing landscape and looks set to remain into the future. Plenty of data and information exists, particularly on the KPIs of sus­tain­ab­il­ity-linked financings, but it is scattered. In this guide we have compiled, analysed and commented on all aspects of sus­tain­ab­il­ity-linked financing to give you access to everything you need to know.
24/10/2022
Bulgarian Finance Ministry announces blueprint for adoption of the Euro...
On 21 October 2022, the Bulgarian Ministry of Finance (MF) announced its blueprint for adopting the Euro under a future Euro Adoption Act (EAA). This blueprint closely follows the main guidelines under...
13/10/2022
Law and regulation of private placement of common stock in Bulgaria
1. Prospectus requirement Offer to the public. Admission to trading of securities on a regulated market. 2. Prospectus exemptions Key exemptions Offer to the publicQualified Investors. Less than 150...
Comparable
23/08/2022
Restructuring and insolvency law in Bulgaria
1. What is the primary legislation governing insolvency and restructuring proceedings in your jurisdiction? Pursuant to Annex A to Regulation (EU) No. 2015/848 of the European Parliament and the Council...
Comparable
01/12/2021
E-signatures in finance and NPL transactions in Bulgaria
1. E-con­tract­ing, e-statements and e-signatures in banking & finance transaction contracts and legal statements 1.1 Which are the typical documents (contracts, legal statements, etc.) where written...
05/10/2020
CMS expert guide to Anti-Money Laundering and Counter Terrorist Financing...
In order to maintain the integrity of financial markets and prevent corruption and terrorism, governments must take a robust approach to money laundering and terrorist financing in step with a coordinated...
02/10/2020
AML and CTF law and regulation in Bulgaria
1. What national legal act(s) provide for Anti-Money Laundering (AML)/Counter Terrorist Financing (CTF) measures in your country? The Anti-Money Laundering Measures Act, adopted on 27 March 2018, as amended...
Comparable
14/09/2020
ECB announces the names of the Bulgarian banks subject to direct supervision
On 11 September 2020 the European Central Bank (“ECB”) announced the names of the Bulgarian banks that will be subject to direct supervision under its Single Supervisory Mechanism (“SSM”) mandate...