Clifford Chance Badea, the local office of global law firm Clifford Chance, has advised Exigent Property Investment, one of the most dynamic real estate developers in Bucharest, in connection with the EUR 57.8 million financing agreement with OTP Bank Romania and OTP Bank Plc..

The funds will be used for the development of the 5th phase of Exigent Plaza Residence complex, in the Militari district (Bucharest).

The team of lawyers 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 support with the signing of financing documents.

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”.

Mădălina Mailat, senior associate, adds: “We feel a real satisfaction to have contributed with our experience to another real estate project that is representative for Bucharest. We are glad that we had the opportunity to work with the teams involved in this project and we hope to have the opportunity to meet again at the negotiation table in the future”.

Fully integrated into the global Clifford Chance network, the local Banking & Finance practice covers all types of finance projects; in addition to traditional banking financing projects, the firm provides support as lead advisor in sovereign or corporate bond issues, non-performing debt restructuring, but also debt portfolios transactions. Deals are often advised by multi-jurisdictional teams that generate an optimal mix of local experience and global know-how. When needed, clients benefit from an integrated practice of English and Romanian law. At the same time, the practice has a significant volume of consulting work for banks and financial institutions in terms of regulatory requirements, compliance programs and best practices.