NNDKP and Clifford Chance Badea in the the EUR 57.8 million financing agreement between OTP Bank and Exigent Property Investment

Nestor Nestor Diculescu Kingston Petersen (NNDKP) has assisted OTP Bank Romania and OTP Group in a EUR 57.80 million financing for Exigent Property Investment SRL to fund the development of phase 5 of Exigent Plaza Residence, the largest residential project in Bucharest, located in Militari area.

Clifford Chance Badea, the local office of global law firm Clifford Chance, has advised Exigent Property Investment in this financing agreement.

The NNDKP team involved in this transaction was led by Valentin Voinescu, Partner in the Banking and Finance practice, and included Cătălina Dan, Associate, and Alexandru Ciambur, Senior Associate, in the same practice.  NNDKP advised the banks during all phases of the project, assisting them in structuring, negotiating and signing the complex loan documentation, including in connection with a Lei 50 million line of credit issued by OTP Bank Romania for project-related VAT costs.

The Clifford Chance Badea team of lawyers was coordinated by Mădălina Rachieru-Postolache, partner, and including senior associate Mădălina Mailat and lawyer Dana Mirea has provided support throughout the entire transaction, on aspects such as financing structuring, review, negotiation and

“We are glad to have been able to assist the OTP team in the successful completion of this financing transaction and grateful for our excellent collaboration. It is always a pleasure to be able to contribute to high-caliber projects that support the urban development of the capital. This financing demonstrates once again the experience and skills of NNDKP’s Banking and Finance team, and I thank my colleagues for their involvement”, mentioned Valentin Voinescu, Partner, NNDKP.

Mădălina Rachieru-Postolache, Clifford Chance partner, says: "It is always an honor for us to add to our track record projects involving representative companies for the Romanian entrepreneurial environment. The fact that we can integrate in such matters the global expertise of Clifford Chance, perfectly adapted to our local context and know-how, confirms that we share the same vision for a high-performing and sustainable domestic business environment. We were happy to work with the ambitious team of Exigent Property Investment and we thank them for trusting us to join this project”.