Deloitte Legal, CVI

Press releases

Deloitte Legal advised CVI Dom Maklerski on a cross-border secured mezzanine bonds financing

Warsaw, 25 February 2020

Deloitte Legal has advised CVI Dom Maklerski sp. z o.o. (CVI), on the negotiation and preparation of a secured mezzanine bond transaction. The bonds were issued by the Latvian company SIA Riga Retail Park, and the funds raised were used to co-finance an acquisition of land for as well as construction and development of the Saga Lifestyle and Shopping Centre in Stopini, a suburb of Riga, Latvia, by the Baltic real estate developer, VPH.

The bonds were issued under Polish law and were secured by Latvian law governed collaterals, including pledges over assets and shares and a mortgage over land. Since the project is to be co-financed by a consortium of two Latvian banks, the negotiation process also included inter-creditor arrangements.

The Deloitte Legal team, supervised by Agnieszka Ziółek (Partner), included:

  • Antoni Goraj (Senior Managing Associate);
  • Mariusz Banaś (Managing Associate), and
  • Sylwia Karpińska (Lawyer).

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Dom Maklerski Navigator S.A. was engaged in the transaction as the issue agent. For CVI the Latvian law issues were handled by TGS Baltic Latvia, where the team was composed of partner Inese Hazenfusa, associate Mikelis Ozolins and legal assistant Martins Galzons. Sorainen advised SIA Riga Retail Park in relation to the Latvian law issues. The Sorainen team consisted of partner Rūdolfs Eņģelis and senior associates Inese Heinacka and Renāte Purvinska.

About CVI

CVI, headquartered in Poland, is the largest manager of private debt funds in Central Europe with EUR 1.1bn in assets under management. Since its inception in 2012, CVI has deployed more than EUR 2.1bn into small and mid-market companies in over 550 private debt transactions. The majority of funds managed by CVI are invested in direct lending strategies that deliver superior risk-adjusted returns on predominantly senior structures. In 2019, CVI was the first Polish, as well as the first Central European, fund manager recognized by Private Debt Investor magazine, with the “Lower Mid-Market Lender of the Year, Europe 2018” award. CVI is a signatory of United Nations-supported Principles for Responsible Investment (UN-PRI).

About Deloitte Legal

Deloitte Legal has over 2,500 lawyers in 81 countries and is one of the largest global law firms. In Poland Deloitte Legal has more than 90 lawyers resident in a network of offices in the largest Polish business centers: Warsaw, Poznań, Wrocław, Kraków, Katowice and Szczecin.

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