News
Restructuring in Bulgarian TV Operator Bulsatcom
In November 2020, the investment company Integral Venture Partners, which is financed by the EBRD and the EIB, announced its investment across the capital structure of the largest Bulgarian pay-TV and broadband operator Bulsatcom. The terms of the investment were not disclosed.
Аfter the current investment, publicly available resources indicate that the next stage in the development of Bulsatcom may be its sale. In 2019, Bulsatcom booked BGN 158.3 million (approximately EUR 80.7 million) revenue, negative EBITDA of BGN 83 million (approximately EUR 42.3 million) and a net loss of BGN 122.8 million…
KALO & ASSOCIATES Assisted in Drafting Council of Ministers Decisions
In an EBRD funded project, KALO & ASSOCIATES assisted in the drafting of the following Council of Ministers Decisions.
Rehabilitation of the Tirana-Durres Railway Line and Construction of a New Railway Line to Tirana International Airport
The Project consists of the rehabilitation of the existing railway line between the cities of Tirana and Durres and construction of a new railway line connecting the Tirana-Durres line with the Tirana International Airport (TIA).
In October 2020 a contract of 30 months with a price of EUR 69,691,711.57 was awarded to the Italian company INC S.P.A. following an international tender launched by the Ministry of Infrastructure and EBRD. The company is currently in the process of obtaining the necessary permits for starting construction works.
BDK Advokati Advised EBRD and ENEF on a EUR 12 Million Loan in Serbian IT Sector
BDK Advokati advised the European Bank for Reconstruction and Development (EBRD) and the Enterprise Expansion Fund (ENEF) on their recent closing of a EUR 12 million secured credit facility loan to the software developer and technology research and development service provider, High Tech Engineering Center (HTEC).
Polenak Law Firm Advised EBRD in a EUR 20 million Loan to Sparkasse Bank Makedonija
Tatjana Shishkovska, partner and Ana Petrovska-Belopeta, associate at Polenak Law Firm, advised European Bank for Reconstruction and Development (EBRD) in a EUR 20 million loan to Sparkasse Bank Makedonija.
Belgrade Waste Management PPP Deal Wins IFLR Europe 2020 Award in Project Finance
BDK Advokati is proud to announce that the project financing for the Belgrade waste management PPP project has received the IFLR Europe DoY 2020 award.
Polenak Law Firm Advised EBRD on the First Project since the Coronavirus Outbreak in the Republic of North Macedonia
Polenak Law Firm advised EBRD in a new EUR 2.5 million loan to Ohridska Banka AD Skopje under the Green Economy Financing Facility programme (GEFF).
ESM Project for Solar Energy - Photovoltaic Power Plant
The project is regarding a EUR 7 million long-term loan from EBRD for financing the construction of a 10MW photovoltaic power plant within the existing Oslomej thermal power plant (TPP Oslomej). The electricity produced will be transmitted directly to the transmission grid.
ESM (previously named ELEM) will make use of the proximity of the existing TPP substation and at the same time compensate ESM's commitment to invest in the rehabilitation part of the old coal mine. The total value of the project is EUR 10 million.
Regional and Local Roads Connectivity
Provision of a sovereign loan to the Republic of Albania for the benefit of the Albanian Development Fund (ADF) to finance the rehabilitation of key regional and local roads in Albania.
Financing Agreements for the Vinča Waste-to-Energy PPP Signed
Financing agreements for the waste management public-private partnership project in Vinča, Belgrade were signed in the beginning of October. The project has a total investment size estimated at approximately EUR 350 million, envisaged to be financed by equity and non-recourse debt from IFIs – EBRD, IFC and OeEB. This is one of the largest and certainly the most complex project financing schemes in Serbia up to date. It is supposed to resolve the environmental hazard caused by one of the largest dump sites in Europe.
BDK Advokati, alongside Clifford Chance as the international legal advisor, advised EBRD, IFC and OeEB on the project.
Polenak Law Firm Advises EBRD
Polenak Law Firm advised EBRD in a loan transaction of EUR 5 million to Aktiva, including transaction advice and security documentation.
Corridor Vc Phase 3 Project
An EBRD and EIB funded project that has a total estimated cost of EUR 235 million for the construction of priority motorway sections along the international transport Corridor Vc.
