Clifford Chance, working with Hannes Snellman, has advised ING on a Finnvera-covered export credit facility agreement and an EKN-covered export credit facility agreement with Digi Communications.
Digi Communications, also known as RCS & RDS, is a telecommunication group with businesses in Romania, Spain, Italy, Portugal, and Belgium. The company's Romanian operation will borrow EUR 133 million under the two facilities, with the company's Spanish subsidiary acting as an additional original guarantor.
According to Clifford Chance, “the debt financing for Digi will be used towards the supply of telecom equipment and services to the company’s entities in Romania and Portugal under contracts with Ericsson and Nokia."
Finnvera is the export credit agency of Finland. EKN is Sweden's export credit agency.
Clifford Chance’s team included Romania-based Managing Partner Daniel Badea, Counsel Cosmin Anghel, Senior Associate Madalina Mailat, and Lawyer Nicolae Grasu, as well as further lawyers in Amsterdam and Madrid.
Clifford Chance did not respond to our inquiry on the matter.