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Clifford Chance and Tsvetkova Bebov & Partners Advise on Bulgaria's EUR 2.3 Billion Sovereign Bond Issuance

Clifford Chance and Tsvetkova Bebov & Partners Advise on Bulgaria's EUR 2.3 Billion Sovereign Bond Issuance

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Eversheds Sutherland member Tsvetkova Bebov & Partners, working with Clifford Chance, has advised the Republic of Bulgaria on a dual-tranche EUR 2.3 billion sovereign bond issuance. Linklaters and DGKV reportedly advised joint lead managers BNP Paribas, Credit Agricole CIB, Deutsche Bank Aktiengesellschaft, and JP Morgan.

According to Tsvetkova Bebov & Partners, in November 2023, Bulgaria issued “two RegS-only tranches under its 2015 EUR 14 billion GMTN program – one for EUR 1.3 billion, maturing in 2031, and one for EUR 1 billion maturing in 2036. The tranches are listed on the Luxembourg Stoch Exchange.”

Earlier in 2023, Clifford Chance and Tsvetkova Bebov & Partners also advised on Bulgaria's EUR 1.5 billion sovereign bond issuance (as reported by CEE Legal Matters on February 16, 2023) while, in 2022, they advised on another EUR 2.25 billion sovereign bond issuance (as reported by CEE Legal Matters on October 20, 2022).

The Clifford Chance team was led by Partner Deborah Zandstra and Senior Associate Eric Green.

The Tsvetkova Bebov & Partners team included Managing Partner Nikolay Bebov, Partner Damyan Leshev, and Senior Associate Petar Ivanov.

Editor's Note: After this article was published, DGKV confirmed its involvement to CEE Legal Matters. The firm's team included Partners Gergana Monovska and Georgi Tzvetkov.

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu

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