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CMS advises on Pannonia Ethanol EUR 135m Refinancing

5 December 2016

CMS advised major Hungarian commercial banks (new lenders) on Pannonia Ethanol (borrower) EUR 135 Million refinancing transaction.

Pannonia Ethanol, which processes 1 million tons of maize annually producing fuel grade bioethanol and GMO free animal feed, is among the largest ethanol facilities in Europe.

The deal structure involved US EXIM and OPIC as exiting senior lenders, Hungarian EXIM, and Cordiant Emerging Loan Funds as remaining senior lenders, and Hungarian commercial banks K&H Bank, Budapest Bank, and Raiffeisen Bank as new senior lenders.

The CMS team assisting K&H Bank, Budapest Bank, and Raiffeisen Bank as the new senior lenders was led by Partner Erika Papp, Senior Counsel Csongor Tompa, and Lawyer Linda Al Sallami.