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.
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 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.
“We were very pleased to have our partners from Nestor Nestor Diculescu Kingston Petersen (NNDKP) on board in this transaction. As always, their professionalism and experience contributed to the successful implementation of this financing agreement. We are convinced that the solid and reliable partnership we have developed over time will allow us to finalize even more lending initiatives in the future, across various industries. OTP Bank has been increasingly active on the syndicated loan market, which is why the consolidation of this strategic collaboration will be beneficial to both parties and will also lead to the implementation of landmark projects in Romania”, declared Alexandru Neagu, Large Corporate Director at OTP Bank Romania.
“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.
NNDKP’s Banking & Finance team has constantly been involved in complex projects concerning corporate finance, project finance, acquisitions of financial institutions and international and local companies, or public sector finance. Over the past years, the members of the team were involved in financing transactions amounting to more than EUR 5 billion in sectors such as agribusiness, energy, real estate, infrastructure, FMCG, production or technology.