Dentons has advised a syndicate of four banks on the successive financing of AmRest Group

Dentons has advised the syndicate of four banks formed by Bank PekaoS.A., Česká spořitelna, a.s., PKO BP and ING Bank Śląski on the successive financing of AmRest Group. On October 1, 2018, the parties signed an amendment to the facilities agreement (of 2017) granting a new facility of up to €190 million to AmRest Group for the financing of capital expenditure, M&A transactions and general corporate purposes.

Pursuant to the facilities agreement executed in October 2017, as subsequently amended, the banks agreed to make available to the borrowers the term loans up to PLN 580 million, €250 million and CZK 300 million. Furthermore, they signed a revolving loan of up to PLN 450 million to refinance the existing indebtedness and finance the organic growth of AmRest Group in various European countries including Romania, Poland, Czech Republic, France, Germany, Hungary, Russia and Spain.

As part of the transaction, Dentons lawyers advised on a range of complex issues arising from relations between the borrowers and the syndicate, as well as from the legal restrictions on the financing of AmRest Group’s activities in foreign jurisdictions.

The transaction was cross-border and involved co-operation of Dentons teams working in eight jurisdictions. Romania Managing Partner, Perry V. Zizzi, led the transaction team for Romania while the project was supervised from Warsaw by Partner Mateusz Toczyski, Head of Dentons’ Banking and Finance practice in Europe.

It was a complex project and we are happy to assist our clients in this cross-border transaction that involved close collaboration of 8 of our offices across Europe. We are always glad to support AmRest Group in strengthening their position in the region. As a matter of fact, a few years ago we have assisted them to enter the Romanian market with the acquisition of the Starbucks franchise in Romania and also in Bulgaria”,said Perry Zizzi.

Our full team working on the Romanian sides of the transaction included:Perry V. Zizzi, managing partner, Magdalena Răducanu, managing counsel, Oana Ionașcu, senior associate and Cosmin Vasilescu, associate (Romania)

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