Banking, finance and capital markets in Hungary

Siegler Bird & Bird Ügyvédi Iroda's practice is led by Konrád Siegler, who is one of Hungary’s best-known banking and capital markets lawyers. He has 30 years of experience in this space. The firm's core areas of activity include transactions involving project finance, structured finance and syndicated loans, as well as advice on regulatory issues. Tamás Simon provides support in project finance transactions, as well as in bankruptcy and restructuring mandates.

Andrékó Kinstellar‘s ‘experienced team‘ has an ‘excellent track record‘ in banking and capital markets transactions, as well as the provision of financial regulatory advice. It works with leading banks and borrowers and issuers in connection with all forms of debt, sovereign and secure borrowings, as well as bond issues and IPOs. Project finance transactions in the infrastructure, real estate, energy and renewable energy projects space are another key area of expertise, in addition to the firm's market-leading straight and structured debt and equity issuance practice. Csilla Andrékó is an authority in property and acquisition finance, restructuring, Hungarian and international banking and syndicated lending. Counsels Levente Hegedüs, Dalma Ördögh and senior associate Zsuzsa Andrékó are also central members of the team.

Dentons‘ Budapest office houses a sizeable team of banking specialists with extensive cross-border experience. Its transactional expertise spans syndicated loans, bridge and bond financings and tender offer financings, among other areas. The group also provides regulatory advice and is also active in restructuring and insolvency matters. The practice is an active participant in Hungary’s booming renewable energy investment sector, and is sought after for its expertise in financing of solar power park developments. It is also increasingly active in corporate bond issuances. Department head Gergely Horváth has over 25 years of experience in domestic and international bank finance and real estate finance matters, debt capital markets and derivatives transactions. Gábor Király re-joined the practice in April 2021, following a tenure at GB & Partners, and has been appointed Managing partner of the Budapest office in early 2022. Senior associate Gabriella Pataki is another name to note for project finance and restructuring.

DLA Piper‘s first-rate reputation is underpinned by its team’s breadth of expertise across the full range of finance transactions. Its transactional work ranges in scope from sovereign export credit facilities to bond and restructuring deals. The practice has also steadily grown its share of trade finance and corporate finance work, and has also increased its market exposure in the debt capital markets arena. Key lawyers in the sizeable team include practice head Péter Györfi-Tóth and Gábor Borbély, who maintains a strong reputation in high-value development and export finance mandates, real estate acquisition finance transactions and restructuring. Counsel Attila Sári advises on acquisition finance, general corporate lending and project finance, while senior associate Barbara Császár mainly advises in cross-border finance matters, as well as real estate financing transactions. The capital markets practice is jointly led by András Nemescsói and Gábor Molnár, who works with Budapest Stock Exchange and the Hungarian regulator on reform proposals aimed at streamlining the Hungarian capital markets transactional legal framework.

Clients praise Lakatos, Köves and Partners for its ‘tremendous broad knowledge, which goes far beyond their practice area and is beyond market standards.’ Its two main partners, Szabolcs Mestyán and John Fenemore have over 30 years of experience handling the most complex and innovative financial and capital markets products, often cross-border in nature, as a result of Fenemore’s English law experience and links with top London firms. He regularly assists international clients with trade finance, asset finance and real estate finance transactions, margin loans and restructuring mandates. Mestyán’s ‘skills and knowledge are unparalleled in the market‘, according to a client. He advises on all cross-border financing, banking and capital markets regulations, securitisation, and is distinguished for his capabilities in aviation finance. Péter Köves and associate Balázs Rokob are also recommended.

Gárdos Mosonyi Tomori Law Office's banking and finance team is adept at advising on a wide variety of lending transactions, as well as regulatory matters (including in the areas of fintech and payment services), loan restructurings and banking litigation. The firm is also prominent in the capital markets space, where it continues to maintain a strong presence in securitisation transactions. Erika Tomori, who is one of Hungary’s top capital markets lawyers, specialises in domestic bond issuances and capital markets disputes. She is also sought after for advice on syndicated finance transactions and banking regulatory issues. Securities specialist Dániel Szabó and name partner Péter Gárdos are also key figures, as is associate Beatrix Berkes.

Jalsovszky's team demonstrates 'profound understanding of lending dynamics on commercial and credit grounds from both the borrower's and lender's point of view'. It is experienced in corporate finance, acquisition and project finance, with increasing instruction from lenders on development financing in the energy, solar power and real estate sectors. Key partner Gábor Pázsitka is experienced in loan portfolio transactions and restructuring.

Moore Legal Kovács is the result of a strategic alliance that took effect in December 2021 between Hungarian corporate law firm HBK Partners and Moore Hungary, the Hungarian member firm of the global audit and advisory network Moore Global. It advises banks and fund managers on establishing investment funds, as well as handling issuances of securities and bonds, and other equity and debt capital markets transactions. On the banking side, the client portfolio includes private investors, private equity funds and venture funds. Márton Kovács and Dóra Halápi co-head the practice. Katalin Budai, who is the main banking specialist, advises Hungarian lenders and borrowers on bilateral and syndicated loans, project and acquisition financing and restructuring transactions.

Edina Schweizer, who is the main banking partner at Noerr, is ‘a true force in the market‘, ‘extremely smart and experienced, and provides client-friendly, practical advice‘. The practice continues to be a favourite with German-speaking corporates and banks and is actively growing its local presence with new instructions from Hungarian corporates such as GTC Hungary and OTP Bank. Areas of activity include acquisition and corporate finance, loan portfolio transactions, refinancings of real estate assets and regulatory matters. Counsel Ákos Bajorfi is another key member of the team.

Sándor Békési leads the ‘very proactive‘ banking team at Partos & Noblet in co-operation with Hogan Lovells International LLP, which maintains a steady pipeline of both lender and borrower-side work. It has seen an increase in instructions on infrastructure and regulatory related matters. The firm is a popular choice for US and Canada-based clients; the team recently advised CES Energy Solutions Corp. on the Hungarian law aspects of their CAD 170m and $50m global financing agreement. Békési also handles a significant number of real estate financing transactions.

Schoenherr Hetényi Ügyvédi Iroda is known for its strong activity in acquisition finance and project finance transactions, particularly in relation to solar power plants. It team also has expertise in non-performing loans, as well as bridge financing, among other key areas of work. Practice head Gergely Szalóki, who is 'the engine of the practice', is a highly sought-after banking expert, whose clients include OTP Bank, Erste Group Bank and Bain Capital Europe. He also advises managers and issuers on bond issuances.

At Szabó Kelemen & Partners Andersen Attorneys, Péter Vincze continues to be highly active in banking transactions, routinely representing clients in their most significant borrowings, and also advising financial institutions on regulatory issues and restructurings. He also assists clients with the acquisition of banks and financial institutions, as well as loan portfolio transfers. Tamás Kárpáthegyi and Zoltán Módos are recommended for project finance, syndicated lending and refinancing advice.

Szecskay Attorneys at Law primarily advises financial institutions and corporate borrowers on Hungarian financial and investment service regulations, as well as assisting clients with the structuring, drafting and negotiation of finance documents. It is also demonstrates capabilities in handling complex restructurings and work-outs, and also banking litigation. Katalin Szecskay is the main partner for various lending transactions, largely focusing on project finance, acquisition finance and corporate finance. She is supported by Judit Budai, who leads the capital markets practice, and senior associate Judit Szórádi.

Wolf Theiss Faludi Erős Ügyvédi Iroda maintains good visibility in project finance and real estate finance transactions, particularly in relation to the development of solar power parks, as well as large infrastructure and other real estate assets. The practice is also in demand for refinancing and restructuring mandates. Melinda Pelikán is the main contact for cross-border financing and regulatory matters. Clients from a German-speaking background are particularly well represented, with the firm also generating work from a growing local Hungarian corporate client roster.

CERHA HEMPEL Dezső & Partners‘ banking practice has traditionally focused on assisting German-speaking clients (both borrowers and lenders) with real estate project finance transactions, as well as advising Hungarian companies and local subsidiaries of regional multinationals on corporate finance deals. The practice has continued to develop its offering in restructuring and refinancing, debt recovery and insolvency, particularly in the field of foreign currency denominated consumer financing. Edina Nagy stands out for her expertise in project finance, restructuring and banking litigation. Andrea Presser is recommended for regulatory mandates.

Deloitte Legal Göndöcz and Partners Law Firm‘s team is well regarded for its high level of capital markets expertise and strong capabilities in securitisations, financial licensing matters, regulatory advice and financing transactional expertise. The firm is increasingly active in sustainability-related projects, such as green bond issuances. The practice is by senior associate Al-Sallami Linda, who is the lead adviser on cross-border acquisition finance and project finance transactions in the energy and real estate sectors, as well as on capital markets transactions. Managing partner Péter Göndöcz is primarily known for his corporate and transactional work.

Forgó, Damjanovic & Partners Law Firm excels in assisting Hungarian banks and corporate clients with deposit and loan transactions, syndicated and trade finance facilities and subordinated loans. It is also instructed in licensing and regulatory matters, and receives referrals from international firms on matters concerning Hungarian banking law. Counsel Ferenc Lénárt has over 17 years of banking experience, both in a transactional capacity and in contentious proceedings before the Hungarian Financial Supervisory Authority and the National Bank of Hungary.

Boutique firm HP Legal | Hajdu & Partners is active in the gamut of banking and finance transactions, including those involving syndicated and bilateral lending, corporate finance and acquisition finance. It is also instructed by Hungarian banks and CEE entities on the financing of real estate development projects. Laszlo Hajdu is 'an outstanding and experienced lawyer', who is distinguished for his work on the financing of large-scale development projects in the real estate and energy sectors. Réka Versics's practice is focused on real estate finance, particularly in the commercial and retail sectors.

Nagy és Trócsányi Ügyvédi Iroda generates mandates from domestic corporates and commercial banks on a standalone basis, and in addition, attracts referrals from foreign law firms on various global or regional syndicated credit facilities. It specialises in handling the financing aspects of real estate and corporate projects. György Kiszely has been increasingly active in financial regulatory matters. Zoltan Varga is experienced in project finance and structured finance transactions, as well as leasing and work-outs.