Bulboacă & Asociații SPARL Plays Dual Role in €55 Million Financing Secured by Frigoglass Group
Bucharest, December 6, 2022 — The law firm Bulboacă & Asociații SPARL recently advised both the Frigoglass Group — a global leader in the commercial refrigeration equipment market — and a group of investors in a significant €55 million financing deal, structured through the issuance of Senior Secured Bridge Notes.
A Rare Dual Representation Role
The transaction documentation was signed on December 5, 2022, marking the successful completion of a two-month process during which Bulboacă & Asociații SPARL held an exceptionally rare dual mandate in the financing market. The firm provided legal counsel to both the borrower (Frigoglass) and the creditor group, while fully observing ethical standards. The legal teams involved were organized under a “Chinese Wall” protocol to ensure strict confidentiality and eliminate any conflict of interest.
The structure of the financing documentation required the creation of custom legal mechanisms, designed to bridge the new financing with the refinancing of an existing loan, while protecting the interests of the creditors in a complex and evolving commercial context.
Strategic International Context
The financing was part of a broader series of strategic international operations undertaken by the Frigoglass Group. It was intended, among other purposes, to ensure liquidity for the continuation of investments and to reinforce the group’s long-term operational resilience.
Frigoglass Romania remains a key member of the group and its main production hub for the European market, despite the devastating fire in June 2021 that destroyed part of its factory. The facility is currently undergoing reconstruction.
https://www.zf.ro/info/p-dublu-rol-pentru-societatea-de-avocati-bulboaca-si-asociatii-sparl-21407535