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Boyanov & Co’s well-established international practice provides an ‘an outstanding level of service’ to an array of financial institutions, including JPMorgan, UBS and Deutsche Bank. Practice head Damian Simeonov led advice to the UK’s Capita Asset Services on the €86m cross-border refinancing and restructuring of a non-performing loan for the development of Sofia’s first business park. Yordan Naydenov, who provides ‘flexible solutions’, advised Eurobank Bulgaria on purchasing Alpha Bank’s entire Bulgarian business.

Djingov, Gouginski, Kyutchukov & Velichkov’s leading practice is jointly headed by the widely respected Vessela Stancheva-Mincheva and Nikolai Gouginski. The team demonstrates ‘knowledge, high-quality work and clear communication’ and acts for the International Finance Corporation (IFC) and European Bank for Reconstruction and Development (EBRD) on various matters. The team is advising a bank consortium – which includes HSBC, the IFC, Nedbank and Standard Chartered – on the provision of debt for subsidiaries of Petroceltic International.

Schoenherr (in cooperation with Stoyanov & Tsekova) handles high-value, cross-border transactions and has a high-profile banking client list that includes Deutsche Bank, Citibank Europe and Commerzbank. Tsvetan Krumov assisted UniCredit Bulbank and Société Générale Expressbank with a €60m extended financing to seven Samsung subsidiaries.

Tsvetkova Bebov Komarevski provides ‘deep and well-argued legal advice’ and has a ‘very good level of industry knowledge and legal expertise’. Its clients include international investment banks and finance houses, such as Société Générale, Expressbank and Ferratum Bulgaria. Nikolay Bebov and Irina Tsvetkova are the key names.

Wolf Theiss provides ‘impressive solution-oriented legal advice’ to global financial institutions and major corporate borrowers, handling some of the largest deals in the market. ‘Great professionalKaterina Kraeva led advice to Arco Capital on structuring and consolidating €103m loans provided by UniCredit for Business Park Sofia, the largest office park in Southeastern Europe. Bank of America Merrill Lynch, HSBC, Barclays and Raiffeisen Bank International are also clients.

Andrey Delchev and Partners – Eurolex Bulgaria is ‘very experienced, competent and reliable’. Stoyan Barzakov heads the practice, which has been advising the EBRD and the Bulgarian Ministry for Energy on the €10m financing of the extension of the country’s natural gas network. The European Investment Bank (EIB) and Bulgarian National Bank are also clients.

CMS’ department co-heads Elitsa Ivanova and Gentscho Pavlov, who is ‘a trusted legal adviser’, are well versed in international transactions and provide ‘a highly professional service’. The firm often acts for international banks, including UniCredit Bank Austria and its Bulgarian subsidiary, which it advised on a €110m real estate finance restructuring.

Finance boutique DTT (Dimitrov, Tchompalov & Todorova)’s ‘small size and dedication to the client sets it apart from bigger law firms in Sofia’. The team regularly works as local counsel alongside international law firms. It recently advised the major shareholder on a €22m loan conversion by a Swiss corporate borrower, a mandate which involved working alongside UK and Liechtenstein counsel. All three name partners – Dimitar Dimitrov, Iordan Tchompalov and Katya Todorova – specialise in the field.

Dimitrov, Petrov & Co’s team is ‘exceptionally productive and precise’. It is representing the Bulgarian National Bank in high-profile litigation, while pure finance work includes advising Black Sea Property on a €10m loan restructuring. Hristo Nihrizovunderstands the banking business very well’.

Dinova, Rusev & Partners has ‘a very solid banking and finance practice’. Diana Valkova and Anelia Dinova jointly head the practice, which includes recently promoted partner Georgi Vladov. The firm is advising a renewable energy producer on restructuring a €20m syndicated project finance loan.

Kambourov & Partners has ‘a phenomenal’ team with business acumen that is ‘beyond impressive’. It has been advising ADM Capital on a €52m refinancing of Prista Oil. Other clients include BNY Mellon, UniCredit Bulbank and the Bulgarian National Bank. Yavor Kambourov is the key figure.

Penkov, Markov & Partners provides ‘priceless help’ and has an enviable client base of lending institutions and corporate borrowers, such as Credit Suisse and Piraeus Bank. It recently advised Balkan Star Retail on obtaining a €15m financing from a syndicate of banks. Vladimir Penkov is ‘a top adviser’ and Ivan Markovblends professional expertise with common sense’.

Banking and finance is a core area of expertise at Spasov & Bratanov. Managing partner Georgi Spasov and Vassil Hadjov are the key names. Clients include the EBRD and various domestic and international banks or other financial institutions.

Andonov & Radinska Law Firm provides ‘first-class lawyers and service’. The team advised Avestus Capital Partners on a €22.5m project refinancing and resecuritisation pertaining to its purchase of a major Bulgarian shopping centre. Hristo Andonov and Silvana Angelova are ‘clever, fast and fully reliable’.

Dobrev & Lyutskanov Law Firm is ‘a first-class practice that does a fantastic job’. Roumen Lyutskanov heads the department, which has been advising multiple creditors of the former Corporate Commercial Bank. Other recent work includes assisting Bulgarian public company Sparky Eltos with a €3m refinancing.

Georgiev, Todorov & Co acts for UniCredit Bulbank in significant debt recovery litigation and other disputes. The team has been assisting key client Piraeus Bank Bulgaria with a debt restructuring scheme. Alexander Katzarsky and Georgi Georgiev are names to note.

Gugushev & Partners Law Office has ‘an excellent business and strategic approach’. The practice advised the IFC, as a new client, on an €80m loan provided to Kaufland Bulgaria. Morgan Stanley Senior Funding is also a client. Managing partner Stefan Gugushev adopts ‘a personal approach’.

Kinkin & Partners advised VEZ Svoghe, part of Italy’s PVB Group, on obtaining project financing from UniCredit Bulbank. Vladimir Kinkin has ‘a very deep understanding of related financial, legal and business issues’. Adriana Nacheva is also recommended.

Kinstellar fields a ‘professional and friendly’ team. ‘Real starDiana Dimova and Svilen Issaev led the advice to Aliphos on the Bulgarian aspects of its €62m term loan and revolving facilities and $15m revolving facility provided by KBC Bank, ING and Belfius Bank.

Law Firm Kolcheva, Smilenov, Koev and Partners’ managing partner Petya Kolcheva is noted for her project finance expertise, particularly in the energy sector. Clients include investment banks, hedge funds and asset purchasers.

Sabev & Partners Law Firm has ‘an in-depth knowledge of the financial services industry, which ensures a wide range of legal service coverage’. George Sabev and Boryana Boteva successfully represented the Bulgarian subsidiary of an international bank in debt-related proceedings before the Supreme Court of Cassation.

Stoeva, Kuyumdjieva & Vitliemov Law Firm’s team provides ‘spot-on, timely and professional’ advice. It is serving as Bulgarian counsel to Czech Export Bank on its financing of Energo-Pro’s acquisition of VEZ Energia Holding. Pavel Vitliemov is the key name.

Tocheva & Mandazhieva Law Office’s capable team is led by name partner and practice head Zhulieta Mandazhieva. The firm advised on a €55m syndicated credit facility for an Asian corporation operating in the renewable energy sector. Sky Asset Management Company is also a client.

Tokushev and Partners Law Office acts for a number of banks, including Piraeus Bank Bulgaria, new client Capital Bank (Skopje) and Heta Asset Resolution. Name partner Viktor Tokushev heads the practice.

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