‘Royds advises Slovenian energy company HSE regarding guarantees to European Bank for Reconstruction and Development for the largest capital infrastructure project in Slovenia’, by John North & Stewart Wilkinson
Corporate and banking lawyers from City of London firm Royds LLP supported the in-house legal team at Holding Slovenske elektrarne (HSE) in loan arrangements to HSE’s subsidiary from the European Bank for Reconstruction and Development (EBRD) for the largest capital infrastructure project – at Euro 1.1 billion – currently being undertaken in Slovenia.
Peter Wootton, lead partner on the Royds team, commented “HSE is a fast growing electricity generating and management company comprising 4,000 employees in Slovenia with strong international ambitions. It also has a deep commitment to renewable energy sources which is demonstrated by its central involvement in Modra energija – the “blue” energy created from hydroelectricity in Slovenia waters. It was a pleasure working with HSE and supporting them as it acquired the funding to continue to expand its operations and markets”.
Ana Zaljetelj, at the head offices of HSE in Ljubljana commented “Royds helped us on a Euro 160 million guarantee for a loan made by the EBRD to our subsidiary company Termoelektrarna Sostanj of Euro 200 million. The guarantee and the underlying loan agreement were governed by English law. Royds also helped on a second guarantee for Euro 80 million on a further loan of Euro 100 million being made to the same subsidiary by a consortium of banks for the same project, which is to build a thermo-electric power plant in Sostanj. We were pleased to work with Royds who guided us throughout the negotiation process”.
For further information, please contact…
John North, Banking Partner, Royds LLP + 44 20 7842 1490
Stewart Wilkinson, Managing Partner, Royds LLP + 44 20 7842 1460
Ana Zaljetelj, HSE, + 386 1 47 04 114
Notes to the editorAbout Royds
Royds is a long established 16 partner commercial City law practice with strong private client facing teams. The firm is well known for its commercial, retail property, employment and commercial litigation practices. It includes a number of banks, airlines, AIM listed and large private companies in its client portfolio. As a member of international association Interleges, Royds regularly advises clients entering the UK market and works on transactions with an international element acting for companies in Europe, the United States, Asia and the Middle East.
About Holding Slovenske Elektrarne (HSE)
The HSE Group is the largest Slovenian organisation in the area of power generation and is the largest producer and trader with electricity on the wholesale market in Slovenia. The hydropower plants, thermal power plants and a coalmine are united into a single brand name – the HSE Group – and together produce a large share of electricity in Slovenia. Supplying electricity from a combination of different sources, HSE plays a crucial role in supplying safe, reliable and quality provision to domestic customers.
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