16 December 2004 – LAWFUEL – First for law news – Allen & Overy has ad…

16 December 2004 – LAWFUEL – First for law news – Allen & Overy has advised ABN AMRO Bank N.V., Citibank Global Markets Limited and ING Bank N.V. as joint lead managers on the €200,000,000 inaugural bond issue for MobilTel AD, the largest mobile telecom operator in Bulgaria.

The bonds, governed by English law, were issued through a Dutch finance vehicle, MobilTel Finance B.V., and the proceeds were used to refinance part of the acquisition debt raised in connection with the LBO earlier this year.

The Paris-based team advising the joint lead managers on the transaction was led by capital markets partner Dan Lauder and Ruari Ewing (associate, capital markets) with Vikki Greatorex (senior associate in the banking and finance department who led the initial acquisition financing mentioned above) and Ashley Young (associate, banking and finance) assisting with the security arrangements.

Bulgarian law advice was provided by Spasov & Bratanov (Georgi Spasov) and Dutch law advice by Allen & Overy Amsterdam and Nauta Dutilh. MobilTel was advised by Haarmann Hemmelrath (Gordon Stewart and Diane Roberts). The Law Debenture Trust Corporation as trustee was advised by Allen & Overy in London (Simon Hill – partner – ICM Corporate Trustees).

Commenting on the transaction, Dan Lauder said: “This transaction was significant for two reasons: it was the first international bond issue by a Bulgarian corporate and it formed part of the largest ever bank financings in Bulgaria. We are delighted that our Paris office was able to play a leading role in bringing this transaction to a successful conclusion.”

For further information, please contact Dan Lauder on +33 (0)1 40 06 55 39 or Isabelle Epp ([email protected]) on + 33(0)1 40 06 54 28 or Iain Rodger in London on +44 (0)20 7330 4947.

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