Finance & Restructuring
Our lawyers are familiar with a broad range of transaction types with particular areas of expertise including acquisition finance, real estate finance and project finance.
By acting for both lenders and borrowers in transactions ranging from bilateral credit agreements to complex multifacility and multicurrency syndicated financings, our clients benefit from our in-depth know-how and results oriented approach.
The finance team managed by Christian Mîndru comprises five Romanian and foreign lawyers who work on a regular basis with other members of Biriş Goran's real estate, mergers & acquisitions, restructuring and tax teams to best address each client's specific needs. We believe in an interdisciplinary team approach to meeting a client's transactional and advisory needs. Lawyers within the finance team have handled complex deals throughout their careers. This experience enables them to provide efficient and cost-effective advice to clients for their major financings transactions executed under significant time pressures as well as mid-market-sized transactions. Real estate finance is a leading practice area of the finance team, and lawyers within the finance team have advised on many high profile real estate finance transactions in Romania. Working closely with the real estate and tax teams, team members have acquired substantial experience in structuring complex financings for the acquisition of real estate assets and portfolios as well as for construction of residential, offices and shopping malls projects. Lawyers within the finance team also have an established record of advising on a broad range of acquisition finance transactions and related aspects, including LBOs, compliance with the prohibition of financial assistance and structuring of security packages and have drafted and negotiated project documentation as well as financing documentation and have advised banks, international financial institutions and sponsors in public infrastructure and manufacturing facilities in Romania.
Recent mandates include:
Represented One United Properties, leading Romanian high end residential developer, in an EUR 20 million bonds issuance through private placement, maturing at four years, for the development of high end real estate in Bucharest;
Assisted PineBribdge Investments, a global asset manager in the financial and corporate structuring of some real estate companies, transaction which involved financing and refinancing coordination and negotiations;
Assisted Hagag Development Europe, affiliate of the leading Israeli developer Hagag with all Romanian law aspects of a bond issuance on the Israeli capital markets;
Legal advisor to Adval Asset Management, an independent Romanian property management group, on the restructuring of loans granted by Bank of Cyprus to Romanian subsidiary of Adval Asset Management (Cascade Offices) and further refinancing from Banca Transilvania;
Legal advisor to Curitiba SRL, Romanian real estate investor and developer, in its capacity as borrower, with respect to negotiation and signing of loan and security documentation and fulfilment of conditions precedent with Libra Internet Bank SA, as lender, for the purpose of further financial investment;
Legal adviser to AdamAmerica, with regards to the refinancing/assignment of shareholder loans and additional costs from Libra Internet Bank SA, in the context of acquisition, via a share deal, of Construdava (owned by Degi Construdava SRL, the target), an 9,400 sqm office building on the Pipera-Tunari road in Voluntari, Ilfov County, from seller Commerzbank AG;
Legal advisor to AdamAmerica, with regards to refinancing of shareholder loans and additional costs from Libra Internet Bank SA, in the context of acquisition (share deal) and financing of Phoenix Tower, owned by Degi PGV Tower SRL (target), a 10,000 sqm office building in the Vitan district of Bucharest, from majority seller Commerzbank AG;
Advised Comfert, a Romanian group of companies in agricultural business, with regards to the restructuring of various loans granted by seven Romanian and foreign banks (Banca Comerciala Romana S.A., BRD-Groupe Société Générale S.A., BROM, Exim, etc) in the context of the sale of the group of companies to Origin, PLC;
Advised the Romanian subsidiary of Europa Capital, with regards to financing of real estate development in Bucharest, from Piraeus Bank Romania SA;
Advised Liebrecht & Wood, a major developer with an array of projects developed in CEE in the last 20 years, with regards to the restructuring of a loan granted by a foreign bank for construction, development, management, operation and maintenance of the “West Park” project, located in Domnești, Romania, as well as additional financing. These are cross-border deals which involved share capital increase operation, various tax and fiscal aspects.