Advised OTP Bank (Hungary) on more than five financing projects

ALRUD team, led by Partners Anton Dzhuplin and Alexander Zharskiy, provided advice and support for OTP Bank in relation to more than five financing projects. The transactions included provision of funds for development purposes (construction of commercial and office real estate) and subsequent restructuring of indebtedness. The total amount of financing exceeds US$350m.

During those projects, ALRUD was engaged in drafting and negotiation of security documents, conduction of due diligence, issuance of legal opinions, monitoring CP collection process, preparation of CP confirmation letters, as well as assistance to the client at signing and closing procedures.

Our obligations on debt restructuring transactions included elaboration and discussion with the client and borrowers of possible schemes for restructuring liabilities, provided security structuring, as well as drafting and negotiation of relevant sets of documentation.

ALRUD also supported the client’s interests in the process of foreclosure and enforcement of security under the financing transactions, including exercising of pledgee’s / legal successor’s rights on pledged property and execution of agreements on contingent transfer of security in favor of OTP Bank.