The promotion of Spasov & Bratanov to the top tier is the major change in the rankings this year. The firm is relatively small but seeing good growth and is described by rivals as "good, quite good, banking & finance specialists"....
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The promotion of Spasov & Bratanov to the top tier is the major change in the rankings this year. The firm is relatively small but seeing good growth and is described by rivals as "good, quite good, banking & finance specialists". However, this is a firm that has market exposure greater than its size may suggest and is known for pre-eminence in the energy sector.
Clients have expressed their satisfaction with the firm. "We've had no problem with them whatsoever, even though it was high volume work, there were no delays," says one, adding: "They're straightforward and easygoing for us because of their knowledge and ability to deliver." The firm's commercial awareness has also been praised with specific attention drawn to Vassil Hadjov: "I think this is something to be appreciated, especially with Vassil Hadjov. It's definitely something of value," says one content client.
This year, the firm advised Deutsche Bank in the largest consensual debt restructuring transaction in Bulgarian history to date. This involved the consensual restructuring of approximately €1.1 billion secured loan and associated debts owed by Actavis Group, its Bulgarian subsidiaries and others to Deutsche Bank. The team also advised the European Bank of Reconstruction & Development (EBRD) and UniCredit on the €47 million financing for Chelopech Mining, the only mining financing in the last several years.
In the last year, the firm was also involved in the largest and most complex transaction involving a publicly listed company in Bulgaria advising the surviving Velgraf Asset Management in its four company merger and ensuing listing on the Bulgarian Stock Exchange, in a deal valued at €30 million. Finally, the firm advised GDF Suez Energy Trading Bulgaria on the internal restructuring of Electrabel's electricity trading operations in Europe and the associated share acquisition and swap transactions pertaining to its Bulgarian operations.
There is little doubt that the firm has left a positive impression on its clients. "We will contact them again because of the good job they did," says one satisfied client.
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