The €70 million 7% unsecured convertible bonds issued by Chimimport Invest AD, the major shareholder of the largest Bulgarian holding company Chimimport AD and registered with the international clearing systems Euroclear Bank S.A./N.V. and Clearstream Banking, societe anonyme. This transaction is special for our firm as it is the first time DTT has been involved in such high-profile transaction without a leading international law firm and DTT was fully responsible for the documentation of the deal. DTT acted as advisor of the issuer and the lead manager UniCredit Bulbank – Sofia;
EUR 22 million convertible loan with PIK interest executed by a Swiss company (as a borrower). This is an interesting and complicated transaction with participation of UK lawyers (Freshfields, drafting the documentation under UK law), Swiss counsel (advising on local laws and drafting pledge agreements) and Liechtenstein counsel (drafting pledge agreement on the shares in a Liechtenstein entity. DTT has advised the major shareholder in the Swiss borrower and is responsible for overseeing the whole process and proper implementation of the conversion goal.
the €65 million 4.5% secured exchangeable bonds issued by a wholly owned Dutch subsidiary of Chimimport AD. Chimimport was the first Bulgarian corporate to issue exchangeable bonds. The structure of the transaction was rather complicated. DTT acts as advisor of Chimimport. The working party list includes Clifford Chance (London and Amsterdam), Simons & Simons – Amsterdam, Boyanov law firm – Sofia, UniCredit – London, HVB – Munich, UniCredit Bulbank – Sofia;
the IPO of TechnomarketDomo N.V., the Netherlands, a leading consumer electronics wholesale and retail group in Bulgaria and Romania. That is a rather complicated transaction: with a prospectus approved by the Dutch authority and passported in UK and Romania for IPO and listing purposes, and in Bulgaria for listing purposes. That transaction is unique in being the first dual listing and cross-border settlement project in Bulgaria. The working party list includes Clifford Chance (London, Bucharest and Amsterdam), Gibson Dunn – London, ING – London, Raiffiesen Centrobank – Vienna. DTT has acted as local counsel of the investment banks and as a Bulgarian partner of Clifford Chance (unsuccessful [1]);
the €98.2 million public offering of existing shares of Zarneni Hrani Bulgaria AD and listing of the company on the Bulgarian Stock Exchange;
the €112.5 million rights issue and capital increase of Chimimport AD;
the First Investment Bank’s €90 million IPO and listing on the Bulgarian Stock Exchange, the first Bulgarian combined offering of new and existing shares;
the Petrol AD €100,000,000 8.375 per cent. 5 years eurobond due 2011, in a team with the London offices of Clifford Chance and Linklaters;
the first Bulgarian IPO, comprising a global offer to international investors: the Bulgarian American Enterprise Fund’s sale of 30% of the Bulgarian American Credit Bank, as a local counsel in a team with Clifford Chance, London;
the first Bulgarian project of sponsored GDR listed at the London Stock Exchange (unsuccessful [2]): ordinary shares of the leading fuel distributor in Bulgaria Petrol AD combined with a right issue, as a local counsel in a team with Clifford Chance, London.
