finance & corporate finance news
Get an overview of our finance & corporate finance news.
Read through our finance & corporate finance team's articles and publications.
press release
18 November 2024
I.Fedurek P.Bartoś A.Kulik G.Chrzanowska F.Grabowski L.Krüpl G.Pázsitka L.Szepsi Szűcs B.Bodó V.Magyar N.Szilvási
Poland/Hungary: Schoenherr advises BGK on EUR 40m financing of first Puro Hotel outside Poland
Schoenherr advised Bank Gospodarstwa Krajowego (BGK) on securing a EUR 40m financing agreement for the development and long-term investment of a Puro Hotel in Budapest.
press release
Poland: Schoenherr advises Luminator Technology Group and Wingspire Capital on USD 40m term and revolving loans
Schoenherr advised Luminator Technology Group ("LTG"), a provider of technology solutions in the transit industry, and Wingspire Capital, a diversified specialty finance firm that provides senior debt solutions, in relation to USD 40m term and revolving loans granted to LTG.
press release
Croatia: Schoenherr advises PAN-PEK on EUR 20m long-term financing agreement with PBZ and EBRD
Schoenherr advised PAN-PEK d.o.o., one of Croatia's leading baked goods producers, on securing a EUR 20m long-term loan granted by Privredna banka Zagreb d.d. (PBZ), part of the Intesa Sanpaolo Group, in cooperation with the European Bank for Reconstruction and Development (EBRD), under a recently signed Risk Sharing Framework (RSF).
press release
Austria: Schoenherr advises RP Global on Mirova's EUR 480m investment
Schoenherr advised RP Global, a leading developer of large-scale renewable energy projects, on Mirova's investment in RP GLOBAL Energy GmbH. Mirova has agreed to become a minority investor and invest up to EUR 480m through a combination of equity and mezzanine bonds. Closing of the transaction is scheduled for November 2024.
newsletter
The National Bank of Hungary's new ESG guideline: a brief overview
The National Bank of Hungary (NBH) introduced a new guideline No. NBH's 9/2024, also known as the ESG (Environmental, Social and Governance) Guideline. This initiative aims to help financial institutions incorporate sustainability considerations into their risk management processes. The Guideline seeks to standardise the collection and assessment of ESG information, thereby enhancing predictability in legal compliance and reducing administrative burdens for businesses applying for credit.
press release
Romania: Schoenherr advises Renovatio on closing two renewable energy deals with OMV Petrom
Schoenherr advised Renovatio on the sale of renewable energy production assets with a capacity of approximately 18 MW to OMV Petrom. The projects are operational and include two wind farms located in Eastern Romania, with a total installed capacity of 16 MW, and a micro-hydro power plant, with a capacity of 2 MW, in Northwestern Romania. The estimated cumulative annual production of these assets is approximately 45 GWh.
press release
Poland: Schoenherr advises Sunrise Real Estate and Ares Management on EUR 1.5bln refinancing
Schoenherr, alongside A&O Shearman, advised Sunrise Real Estate and Ares Management on the Polish aspects related to real estate matters and securing a refinancing deal with Blackstone and Apollo Global Management, Inc. for a European logistics portfolio valued at approximately EUR 1.5bln.
newsletter
Hungary: Convertible loans simplified
Convertible loans have emerged as a pivotal financial instrument for start-ups navigating the challenging terrain of early-stage funding (pre-seed and seed), also called angel investment. These loans are a hybrid of debt and equity financing, offering a unique solution for companies that are not yet ready for a formal valuation or are seeking to bridge funding gaps between capital-raising rounds.
press release
Austria: Schoenherr advises UNIQA on withdrawal from Russia by selling UNIQA's share in Raiffeisen Life
Schoenherr advised UNIQA on the sale of its 75 % share in the Russian life insurance company "Raiffeisen Life" to Russian insurer Renaissance Life. With the closing of this transaction, UNIQA is finally withdrawing from the Russian market. The transaction was signed in August 2023 and was subject to approval by the Russian authorities.
publication
18 September 2024
A.Fischer A.Goławska F.Buta G.Pázsitka B.Bodó W.Kapica M.Schmiedinger M.Zimmermann D.Gritsch
to the point: finance l Q3/2024
press release
18 September 2024
M.Lang C.Herbst V.Weiss M.Thorbauer Z.Simonishvili B.Schima A.Visontai-Knor
Austria: Schoenherr advises Cubic (London) Ltd. on sale of Impact Asset Management to Erste Asset Management
Schoenherr advised Cubic (London) Ltd. ("Cubic") et al on the sale of all shares in Impact Asset Management GmbH ("I-AM"), a Vienna-based investment firm specialised in sustainable and impact-driven investment strategies, to Erste Asset Management GmbH ("Erste AM"). The agreement was executed on 11 September 2024 and closing of the transaction is subject to the required regulatory approvals.
press release
Poland: Schoenherr advises eSky Group on transaction financing regarding acquisition of travel agency Thomas Cook
Schoenherr advised eSky Group, the operator of a leading travel booking platform in Central and Eastern Europe, on the financing aspects of its acquisition of Thomas Cook, a renowned online travel agency. With this transaction, which excludes Thomas Cook's operations in China, eSky Group strengthens its presence in the European travel market and continues its strategy of global expansion and diversification.
press release
02 August 2024
CEE
CEE team
CEE: Schoenherr advises BlackPeak Capital and Catalyst Romania Fund II on EUR 10m Series B funding round to Leanpay
Schoenherr advised BlackPeak Capital and Catalyst Romania Fund II on a EUR 10m Series B funding for Leanpay, a Slovenia-based pioneering Buy Now Pay Later (BNPL) and Point-of-Sale (POS) lending platform. This investment, led by BlackPeak Capital and co-led by Catalyst Romania Fund II, aims to support Leanpay's plans to become the digital consumer lending champion in the Central and Eastern European region.
publication
CZ: Schoenherr Journal Edition 16
The Schoenherr Journal, published by Schoenherr's Prague office, looks at significant new legal developments in the Czech Republic.
press release
Poland: Schoenherr advises ERGO in EUR 90m refinancing for Vantage Group
Schoenherr, acting as Polish counsel, advised ERGO Vorsorge Lebensversicherung AG and DKV Deutsche Krankenversicherung AG in providing EUR 90m to Vantage Group, part of TAG Immobilien, to refinance its rental housing portfolio in Poland. Ashurst provided counsel on the German law-governed loan agreement. The financing supports over 2,500 existing rental units and 1,200 units under construction, underlining Vantage's high market potential.
press release
Poland: Schoenherr advises HES International in EUR 1bln debt capital raise
Schoenherr Poland acted as local counsel for HES International in its EUR 1bln debt capital raise. HES's Polish subsidiary served as the guarantor, securing the financing with its assets. The funding will support HES's growth strategy and portfolio diversification. The transaction included contributions from relationship bank lenders and institutional investors, marking HES's debut in the US Private Placement market.
publication
Lexology In-Depth: Acquisition and Leveraged Finance - Edition 10: Chapter Bulgaria
roadmap
Trade creditor liability risks in arrangements with distressed companies in Austria
In our practice, we have found that the most common reason for distressed companies to initiate reorganisation measures is a severe liquidity squeeze.
roadmap
Sustainability-linked loans and green finance developments in Poland
Greater interest in ESG and the energy transition may be observed recently throughout Europe, especially after the COVID-19 pandemic and the Russian aggression against Ukraine. The green energy transition has become not only a matter of climate protection but also of domestic security. As banks are one of the most important sources of external financing, they play a significant role in the transformation to a sustainable economy and can contribute towards mitigating adverse effects on the environment and society by key players in the global economy.
roadmap
New preventive restructuring framework finally arrived in the Czech Republic
After a delay of more than a year, an Act on Preventive Restructuring (the "Act") implementing the EU directive on preventive restructuring frameworks finally became effective in the Czech Republic on 23 September 2023. The long-awaited Act introduced a brand-new legal tool enabling viable enterprises in temporary financial distress to achieve restructuring outside insolvency proceedings. It is a voluntary and flexible process requiring cooperation with creditors, but not necessarily with all of them.
roadmap
Multiple voting: a tool to attract investors?
One-share one-vote has long been the European Commission's mantra in establishing a level playing field for investors. The conventional wisdom was that a shareholder's influence should be aligned with their economic investment in and exposure to the company. But the success of the "FANG" stocks and the US governance model of giving ultimate control to founders while also selling shares and bringing in new investors has led to a rethink. In response, the European Commission recently proposed a draft directive on the issuance of shares with multiple voting rights in an IPO.
press release
Bosnia and Herzegovina: Schoenherr advises Raiffeisen Bank International AG on EUR 31.06m project financing for 60 MW solar power plant to Energy Financing Team SE
Schoenherr advised Raiffeisen Bank International AG in connection with a EUR 31.06m project financing to Energy Financing Team SE Bileca d.o.o. Bileca as the borrower. The funds will be used to develop a 60 MW solar power plant in the Republic of Srpska, Bosnia and Herzegovina.
newsletter
Hungary launches new CfD support scheme targeting electricity storage operators
On 14 August 2023 the Hungarian Government issued Gov. Decree 382/2023 ("Decree") establishing the legal framework for the implementation and functioning of the new Contracts for Difference ("CfD") support scheme for electricity storage operators ("Storage CfD Scheme").
newsletter
Green loans may be Hungary's path to sustainable financing
In the world of finance, the rise of environmental, social and governance considerations has compelled bankers, investment professionals and banking and finance lawyers to reevaluate their mindset.
press release
Romania: Schoenherr advises DDM on acquisition of Intrum's entire NPL portfolio in Romania
Schoenherr Romania advised DDM Holding AG (DDM) on the acquisition of a non-performing loans (NPL) portfolio from Intrum AB (Intrum). The portfolio contains unsecured consumer receivables and has a face value of over EUR 1bln. The servicing of the portfolio will be performed by AxFina, part of the DDM group. With this transaction, Intrum will exit the Romanian market, as part of its strategic priorities to reduce the number of its jurisdictions, and simplify and focus its geographical footprint.
press release
Austria: Schoenherr advises banks on financing for Wiener Stadtwerke
Schoenherr, together with Linklaters, advised UniCredit Bank Austria as sole coordinator, documentation agent, bookrunner and mandated lead arranger, ING Bank NV as facility agent, bookrunner and mandated lead arranger, Erste Group Bank AG, Raiffeisenbank International AG and Commerzbank AG as bookrunners and mandated lead arrangers as well as other banks on the revolving syndicated facility for Wiener Stadtwerke GmbH. Wiener Stadtwerke's debut in the international syndicated loan market was significantly oversubscribed compared to the target volume of EUR 1.7bln.
media coverage
AT1-Anleihen aus EU rechtlich sicherer
Dass AT1-Anleihen der Credit Suisse im Zuge der Übernahme durch die UBS geschnitten wurden, beschäftigt Politik, Märkte und Anwälte. Einige Investoren wollen nun gegen die Schweizer Finanzmarktaufsicht vor Gericht ziehen, weil diese die Papiere auf null herabgeschrieben hat. Worum handelt es sich bei AT1-Anleihen, und wäre ein Schudenschnitt in dieser Form bei österreichischen und EU-Kreditinstituten möglich?
newsletter
Green finance in Hungary
The Central Bank of Hungary (MNB) is encouraging the banking sector to increase the level of green loans. To this end, significantly reduced capital requirements have been put in place when applying for loans, and green company bonds were introduced in summer 2020 as part of the MNB bond funding for growth scheme. The Hungarian government is now ready to intervene to achieve climate neutrality.
event
Factoring & Co. Juggling multiple short-term financing solutions
Breakfast with Schoenherr | 25 May 2023 | 9:00 – 11:30 am EET | Marmorosch Bucharest Hotel | 2 Doamnei Street, 1st District, Bucharest
newsletter
Bulgaria: Practical problems of repurchase and securities lending transactions
"Repos and securities lending in Bulgaria are regarded as financial collateral, thus ensuring their enforceability. But some important contractual arrangements must be agreed upon by the parties wishing to avail themselves of such enforceability."
newsletter
Bulgaria: Contractual retention right as a security in commercial and financial transactions
Under art. 90, par. 1 of the Bulgarian Contracts and Obligations Act, a party may refuse to perform its obligations if there is non-performance by the counterparty under the same transaction ("Statutory Retention Right").
publication
to the point: Finance | Q4 2022
Welcome to our newest edition of Schoenherr's quarterly to the point: finance newsletter!
press release
Serbia: Schoenherr advises Integral on acquisition of controlling stake in Chips Way
Moravčević Vojnović and partners in cooperation with Schoenherr advised Integral Venture Partners (Integral) on all legal aspects of their acquisition of a controlling stake in Chips Way, a leading Serbian salty snacks manufacturer, alongside its co-investor and industrial partner Nelt Group.
publication
13 September 2022
austria poland slovenia belgium / EU
M.Ebner V.Carranza-Berg P.Feyl W.Kapica M.Nusser M.Schmiedinger V.Kobe
to the point: Finance | Q3 2022
Welcome to our newest edition of Schoenherr's quarterly to the point: finance newsletter!
press release
Austria: Schoenherr advises logistics company Ancla Logistik on merger with Logsta
Schoenherr advised German logistics company Ancla Logistik GmbH (Ancla) on its merger with Austrian logistics scale-up Logsta GmbH (Logsta) and the simultaneous conversion of existing revenue based venture debt provided by Round2 Capital to Logsta.
publication
CZ: Schoenherr Journal Edition 12
The Schoenherr Journal, published by Schoenherr's Prague office, examines the latest important legal developments in the Czech Republic.
newsletter
Bulgaria: Contractual set-off as a quasi-security in commercial and financial transactions
The Supreme Court confirmed parties' freedom to contractually modify any of the prerequisites for set-off under Bulgarian law, thus permitting various quasi-security arrangements in commercial and financial contracts that creditors may avail themselves of.
publication
to the point: Finance | Q1 2022
Welcome to our newest edition of Schoenherr's quarterly to the point: finance newsletter!
press release
Austria: Schoenherr advises Herba Chemosan board on management buy-out
Schoenherr has advised the board of the Austrian pharmaceutical wholesaler Herba Chemosan Apotheker-AG (Herba Chemosan) on the recent management buy-out (MBO).
press release
Bulgaria: Schoenherr advises RGREEN INVEST on unique EUR 15m green bond to finance photovoltaic plant in Bulgaria
Schoenherr advised RGreen Invest, a French management company representing a fund for green energy projects, on a EUR 15m bond to finance the construction of a photovoltaic plant near the town of Razlog in southwestern Bulgaria, as well as on a standard security package for it. The bond's issuer is a member of the Renalfa group, a leading Bulgarian clean energy and e-mobility provider with a focus on renewable energy generation assets.
press release
Austria: Schoenherr advises consortium of six banks led by Raiffeisen Bank International AG on EUR 125m financing for Austrian lighting group Zumtobel
Schoenherr advised a consortium of six banks, led by Raiffeisen Bank International AG, regarding a EUR 125m credit facility for the Austrian lighting group Zumtobel.
press release
Croatia: Schoenherr advises Mirova and RP Global on sale and refinancing of onshore wind farms in Croatia
Schoenherr advised Mirova and RP Global on the sale of two onshore wind farms in Dalmatia, Danilo (44MW) and Rudine (34MW), to Professio Energia d.d. (DLPR, Zagreb Stock Exchange).
roadmap
Preventive restructuring implemented in the Czech Republic: a revolution in Czech insolvency law
A long-awaited bill on preventive restructuring (the "Bill") implementing the directive on preventive restructuring frameworks in the Czech Republic will introduce a brand-new legal tool preventing the insolvency of viable enterprises in temporary distress.
press release
Austria: Schoenherr advises UNIQA on successful issue of new EUR 375m green tier 2 notes and notes repurchase
publication
The Acquisition and Leveraged Finance Review - Edition 8: Chapter Bulgaria
The article was first published on thelawreviews.co.uk
press release
Czech Republic / Austria: Schoenherr advises Twisto group on senior and mezzanine debt (re)financings
newsletter
Green April: European Commission publishes sustainable finance and reporting package
On 21 April 2021, the European Commission (ECOM) published measures aimed at fostering sustainable investment and steering finance towards the European Green Deal.
press release
Austria: Schoenherr advises Raiffeisen on EUR 538m securitisation of leasing receivables
press release
Czech Republic: Schoenherr advises APS on refinancing of public bonds issue
Schoenherr advised APS, a leading group in non-performing loan portfolio servicing and NPL investment advisory activities in the CEE and SEE region, on the refinancing of the existing indebtedness under CZK 620m (approx. EUR 24m) public bonds traded on the Prague Stock Exchange, by way of a loan facility from UniCredit Bank Czech Republic and Slovakia, a.s.
roadmap
Bulgaria and Croatia join ERM II and the Banking Union
On 10 July 2020 the Bulgarian lev and the Croatian kuna were included in the Exchange Rate Mechanism II (ERM II). In the short term this means that the inclusion would support the confidence and credit ratings of the two countries while in the long term – this is an important milestone in Bulgaria and Croatia's efforts to join the euro area.
press release
Austria: Schoenherr advises Hypo Vorarlberg on EUR 330m synthetic securitisation to boost energy-efficient buildings
Schoenherr advised Hypo Vorarlberg on the synthetic securitisation of a EUR 330m portfolio of loans to small and medium-sized enterprises, corporate borrowers or certain private individuals. The transaction is designed to achieve regulatory capital relief under CRR (II) / CRD IV (V). The transaction builds upon a similar securitisation completed with Schoenherr's support at the end of 2017. It is a part of the European Investment Bank's response to support the Austrian economy following the COVID-19 pandemic.
publication
The International Comparative Legal Guide to: Foreign Direct Investment Regimes 2021
The International Comparative Legal Guides provide current and practical comparative legal information on a range of practice areas, following a Q&A format to ensure thorough coverage of each topic within different legal systems worldwide.
press release
Bulgaria: Schoenherr advises Enery on the acquisition and refinancing of the biggest solar park in Bulgaria
Schoenherr led Austrian renewable energy producer Enery to the completion of its acquisition of the largest photovoltaic park in Bulgaria.
press release
Another promotion at Schoenherr: Matthias Pressler becomes Counsel
Matthias Pressler, member of Schoenherr's banking, finance and capital markets practice in Vienna, was promoted to counsel as of 1 October 2020. Pressler joined Schoenherr in 2015, and is an expert in financial services regulation, covering both transactional work as well as contentious and non-contentious regulatory advisory matters and administrative (criminal) proceedings.
press release
Bulgaria: Schoenherr advised major multinational banks on a EUR 90m syndicated credit facility to leading Bulgarian agribusiness company Oliva
Schoenherr advised BNP PARIBAS (Suisse) S.A. ("BNP") as a facility agent and lender; Citibank NA, London Branch as a lender; and Black Sea Trade and Development Bank as a lender, on the Bulgarian legal aspects of a EUR 90m syndicated credit facility extended to Oliva AD ("Oliva") and Buildcom EOOD ("Buildcom"), as well as on the establishment of a Bulgarian security package for the facility.
publication
11 August 2020
czech republic hungary poland romania austria
M.Florea M.Ebner W.Kapica M.Pressler L.Schwitzer V.Carranza-Berg M.Schmiedinger
to the point: Finance | Q2 2020
press release
Austria: Schoenherr advises UNIQA on successful placement of EUR 600m senior and EUR 200m tier 2 green notes
Schoenherr advised UNIQA Insurance Group AG, one of the leading insurance groups in Austria and CEE, on its EUR 800m in aggregate notes issuances that closed on 9 July 2020.
newsletter
Bulgarian Coronavirus Payment Moratorium and its effect on cross-border financial transactions
The Moratorium was not self-proclaimed by the Bulgarian Parliament as an overriding mandatory piece of law so the courts discretion in cross-border scenarios has been retained
newsletter
Slovenia: Government anti-coronavirus support schemes for businesses
On 25 March 2020, the Government of Slovenia announced a EUR 2bln rescue package intended to mitigate the adverse and diverse effects of the COVID-19 pandemic. The package primarily seeks to maintain jobs by providing pay check support and tax relief to employers and introducing additional mechanisms to reduce the liquidity shock on businesses.
newsletter
Hungary: Extraordinary measures impact the Hungarian banking sector
On 18 March the Hungarian prime minister announced extraordinary measures to be taken as a result of the national emergency caused by COVID-19. Most of these measures have a strong impact on the Hungarian economy; in particular, the banking sector.
publication
11 March 2020
croatia czech republic hungary poland slovakia slovenia montenegro
to the point: Finance | Q1 2020
Welcome to our newest edition of Schoenherr's quarterly to the point: finance newsletter!
press release
Schoenherr advises Kommunalkredit Austria AG on Czech and Slovak acquisition financing to Enery Development
Schoenherr advised Kommunalkredit Austria AG as arranger and original lender, on the Czech and Slovak acquisition financing provided to Enery Development for the acquisition of six 21 MW solar power plants in the Czech Republic and two 4 MW solar power plants in the Slovak Republic, from Czech fund Green Horizon Renewables.
newsletter
Hungarian government settles pharma debts: An opportunity for factoring companies? | Hungary
Hungarian hospitals are facing problems paying for drugs and medical devices. Many suppliers have claims worth millions of euros and are having difficulty enforcing them against either the hospitals or the Hungarian government.
newsletter
New Regulation for Derivatives Transactions with Sovereign Counterparty in Serbia | Serbia
According to the Public Debt Act (Zakon o javnom dugu) of the Republic of Serbia, the Minister of Finance manages the country's public debt by (i) entering into transactions that would reduce or eliminate currency risk, interest rate risk and other risks, (ii) deciding on the sale and purchase of foreign currencies, and (iii) managing cash balances on the Republic of Serbia's treasury accounts.
roadmap
Secured lending CEE
With more and more players active in the corporate lending and secured finance markets across the CEE region, and multi-jurisdictional CEE transactions happening on a regular basis, counsels are challenged to navigate their clients through fragmented legal frameworks in various jurisdictions often with different sets of secured lending rules and must-knows.
roadmap
Sustainable Finance – a trend to stay
With sustainable investment picking up globally, environmental, social and governance (ESG) considerations are gaining increasing importance in decision making and practices. Driven by the EU's need to close the approx. EUR 180bln per annum funding gap to achieve its climate and energy goals by 2030, sustainable finance has consistently risen in the policy agenda since 2018+.
roadmap
Exchanging views on current trends in Legal Tech and financing transactions
Legal Tech is currently on everyone's mind and has also become a central topic in the context of financing transactions. While marketable applications for buzzwords such as "automated document generation" or "artificial intelligence" are often still in their infancy in the field of legal transactional advice, such applications can already make a significant contribution to the success of a transaction in the field of efficient process management, e.g. in connection with the satisfaction of conditions precedents under loan agreements.
media coverage
Analiză: ASF anunţă măsuri mai stricte de cunoaştere a clientelei
First published on Ziarul Financiar, 25.10.2019
După BNR, şi ASF vine cu măsuri mai stricte de cunoaştere a clientelei, de formalizare a procedurilor interne şi de derulare a evaluării riscului de spălare a banilor şi finanţare a terorismului, arată o analiză.
media coverage
Interview with Narcisa Oprea from Schoenherr Bucharest
First published on BizLawyer, 17.07.2019
Directiva europeană privind drepturile acționarilor trebuia transpusă în legislația românească până la jumătatea lunii iunie 2019 | Narcisa Oprea, Partener Schoenherr: Chiar dacă directiva nu a fost transpusă încă, existând doar un proiect de lege în acest sens, clienții noștri se pregătesc din vreme pentru conformare, dată fiind anvergura schimbărilor
press release
Czech Republic: Schoenherr advises BNP PARIBAS on EUR 345m SNOP Dunois S.A. acquisition financing
Schoenherr Czech Republic advised BNP PARIBAS ("BNPP") on the EUR 345m term and revolving facilities agreement for Financiere SNOP Dunois S.A. in relation to its acquisition of manufacturing facilities from Tower International, Inc. Schoenherr acted as local counsel to BNPP.
media coverage
Benchmarkwechsel mit Hindernissen
First published on Der Standard, 20.06.2019
Als Folge der Libor-Affäre sollen die für viele Finanzgeschäfte so wichtigen Interbank Offered Rates (Ibors) ersetzt werden. Doch der Übergang zu einem neuen Referenzzinssatz schafft zahlreiche Probleme – auch für Unternehmen.
newsletter
Public liability based on incorrect land register entries is limited
Incorrect land register entries may trigger public liability. But in a recent decision the Austrian Supreme Court (1 Ob 198/18a) held that incorrect land register entries can only constitute public liability claims for a certain group of people.
newsletter
Exit strategies: registering a share transfer when target shares are encumbered by third parties
The stock market's flexibility is its greatest selling point for publicly traded companies, as it allows a fast flow of capital while still enabling majority shareholders to implement fundamental corporate changes should they wish to exit the market.
publication
LEXOLOGY Getting the Deal Through: Secured Lending
Find the full comparative guide on Secured Lending on the LexGTDT tool. Here you can find the answers for Austria.
newsletter
Antitrust and Syndicated loans
In 2017 the Directorate-General for Competition of the European Commission (DGCOMP) kicked-off a process to examine loan syndication.
press release
Schoenherr announces new firm-wide heads of banking, finance & capital markets and real estate practice groups
Schoenherr promotes Sebastian Gutiu (managing partner, Romania) and Matei Florea (partner, Romania) to new firm-wide heads for real estate, and banking, finance & capital markets, respectively.
roadmap
2019
bulgaria croatia czech republic hungary poland romania serbia slovakia slovenia bosnia & herzegovina north macedonia montenegro austria
P.Halwa T.Krumov M.Lučivjanský N.Oprea M.Pressler N.Rosová D.Rutecka M.Črnilec J.Barović
Amending debt terms in CEE/SEE – one region, different regimes
newsletter
Hungary remains strict on factoring
Factoring is an increasingly popular product of banks that appeals to corporate clients of whatever size as it provides liquidity to the clients and stable cash flow. The factoring is usually structured in a way that the vendors of the client do not receive information on the factoring, the bank stays in the background; the relationship between the client and its vendor remains intact. In practice, this means that the client continues to collect the amounts the vendor owes, although such amounts do not belong to the client anymore. Also, it is not uncommon that even the soft workout stage stays with the client in case the vendor is in delay with its payment obligation; i.e. the client will be obliged to chase its vendor for the money.
newsletter
Österreich: Ab 2019 vereinfachter Kapitalmarktzugang für KMU, Wachstumsunternehmen und Startups durch Öffnung des Dritten Markts
Am 25.10.2018 hat der Nationalrat die seit langem erwartete Änderung des Aktiengesetzes beschlossen, die den Zugang von österreichischen Gesellschaften, insbesondere von KMU, Wachstumsunternehmen und Startups, zum Kapitalmarkt erleichtern soll.
press release
Austria: Schoenherr advises listed German Aves One AG on financing of NACCO/CIT acquisition
Schoenherr, acting as lead counsel for the financing, successfully advised Aves One AG ("Aves") on the financing of the acquisition of the NACCO/CIT Group.
press release
Austria: Schoenherr advises listed German Aves One AG on a EUR 155 million senior facility refinancing
Schoenherr successfully advised Aves One AG ("Aves One") on its EUR 155m senior facility refinancing by entering into a new facility agreement with significantly improved commercial terms arranged by a consortium of leading German banks.
press release
Schoenherr advises UniCredit on strategic Bancassurance partnerships with Allianz and Generali in CEE
Schoenherr has advised the UniCredit Group on establishing two exclusive strategic partnerships with Allianz and Generali for the distribution of insurance products for individuals and small-businesses in Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia, and Slovenia announced on 5 June 2018 (see here)
press release
Schoenherr advises EVO Payments on strategic payments partnership with MONETA Money Bank
Schoenherr's financial services team in Prague advised EVO Payments International ("EVO") on the creation of a long-term strategic alliance with MONETA Money Bank ("MONETA") for payment acceptance services to the bank's retail customers.
press release
Austria: Schoenherr represents Austrian Core Shareholders on sale of majority shareholding in listed C-QUADRAT to HNA
Schoenherr has advised and represented the core shareholders of Cubic (London) Limited ("Cubic"), including San Gabriel Privatstiftung, and T.R. Privatstiftung, as indirect controlling stockholders in C-QUADRAT Investment AG ("C-QUADRAT"), on the sale of the majority shareholding in Cubic, and thus C-QUADRAT, to the HNA Group (International) Asset Management Co., Limited, Hong Kong ("HNA"). HNA is part of the HNA Group, a leading Chinese diversified industrial group. C-QUADRAT is an independent asset management company listed on the Vienna stock exchange.
newsletter
Hungary: Uncertainties related to ICOs and ITOs
Initial coin and token offerings (“ICO/ITO”) are innovative ways to finance startups similar to shares IPOs or crowdfunding. Startups may use these processes to raise funds with the aim of avoiding the rigorous regulation of the traditional capital-raising process.
publication
09 April 2018
bosnia & herzegovina bulgaria croatia czech republic hungary north macedonia moldova poland romania serbia slovakia slovenia austria
M.Ebner N.Babić M.Gabrovska A.Radonjanin N.Rosová V.Iurkovski
Direct Lending in CEE/SEE
Direct Lending on the Rise.
press release
Schoenherr advises Slovenian ENI subsidiary on acquisition of Mestni Plinovodi
Schoenherr has advised Adriaplin d.o.o. ("Adriaplin"), the Slovenian subsidiary of Eni S.p.A., on the acquisition of Mestni Plinovodi d.o.o. ("Mestni Plinovodi"), a local natural gas distribution network operator and gas supplier, from a consortium of sellers consisting of gas distributors Ireti and ACSM-AGAM from Italy and Istrabenz Plini from Slovenia.
press release
Schönherr berät B&C bei Gewährung einer Hybridkapital-Linie an Semperit AG Holding
Schönherr hat die B&C Holding GmbH ("B&C") bei der Gewährung einer Hybridkapital-Linie an die börsenotierte Semperit AG Holding ("Semperit") von bis zu EUR 150 Mio beraten.
press release
Schoenherr advises Deutsche Private Equity on acquisition of Euro-Druckservice
Schoenherr advised Deutsche Private Equity Management III ("DPE") on its acquisition of leaflet printing business Euro-Druckservice ("EDS") from a consortium of three company shareholders.
press release
Romania: Schoenherr wins three awards from leading financial journal Ziarul Financiar
Schoenherr si Asociatii was honoured by Romania's leading financial journal Ziarul Financiar with three awards during the eight edition of the Business Lawyers' Gala organised by the newspaper on 27 September in Bucharest.
press release
Österreich: Schönherr berät EVN bei Verkauf ihrer Pensionskasse an VBV-Gruppe
Schönherr hat die börsennotierte EVN AG ("EVN") beim Verkauf ihrer betrieblichen Pensionskasse, der EVN Pensionskasse AG ("EVN Pensionskasse"), an die VBV-Betriebliche Altersvorsorge AG ("VBV") beraten.
press release
Czech Republic/Hungary/Poland/Slovakia: Schoenherr advises AG FOODS and Coöperatief Avallon on settlement of minority shareholders' disputes and management buyout
Schoenherr advised AG FOODS Group ("AG FOODS") and Coöperatief Avallon MBO U.A. ("Coöperatief Avallon") on the settlement of minority shareholders' disputes and on a subsequent management buyout.
press release
Austria: Schoenherr advises Erste Group on Frauscher Sensortechnik leveraged buyout financing
Schoenherr has advised Erste Group Bank AG ("Erste Group"), one of the leading financial service providers in Central and Eastern Europe, on the financing of the leveraged buyout of Austrian sensor technology manufacturer Frauscher Sensortechnik GmbH ("Frauscher Sensortechnik") by New York-based Greenbriar Equity Group LLC ("Greenbriar").
press release
Austria: Schoenherr advises on first Austrian Equity Capital Markets transaction in 2017
Schoenherr has advised publicly traded, global sugar, starch and fruit processor AGRANA Beteiligungsverwaltungs-Aktiengesellschaft ("AGRANA") as issuer on its successful rights offering of 1,420,204 new shares, combined with a secondary offering of 500,000 existing AGRANA shares held by Südzucker AG, one of AGRANA's core shareholders.
This is the first equity capital market ("ECM") transaction in the Austrian market in 2017, and the first deal of its kind in Austria following the entry into force of the European Market Abuse Regulation. The transaction had an overall deal volume of approximately EUR 192m.