Gugushev & Partners Law Office advised the Bulgarian subsidiaries of an Irish construction company on all legal aspects of the bank financing of investment projects for the development of four holiday complexes in Bulgaria.

The law office advised the client in connection with syndicated project financing in the total amount of EUR 23 million, provided by a banking syndicate initially comprising MKB Bank, Hungary, MKB Union Bank, Bulgaria, and Allianz Bank Bulgaria AD. The engagement included legal advice on the structure and terms of the financing, preparation of the necessary documentation, as well as legal matters relating to the security arrangements and drawdown of the loan.

Subsequently, our team advised the client on the restructuring of the financing, which was assumed by MKB Bank, Hungary, which also provided a new credit facility in the amount of EUR 3.25 million. The law office provided legal support throughout the restructuring, as well as in negotiating and securing the new financing.