Carsted Rosenberg Advokatfirma Advises UniCredit Bank on Danish-Romanian Senior Credit Facility
Together with RTPR Allen & Overy, Carsted Rosenberg Advokatfirma advised UniCredit Bank as senior lender on a German-law governed cross-border senior credit facility provided to the Romanian subsidiary of a Danish investment group for the acquisition of farmland in Romania. While farmland prices in Romania have experienced a rapid growth in recent years, they are projected to continue to rise in 2016 after a growth of approximately 10 percent last year. Given that prices are still competitively below the average prices in Western Europe, the acquisition of farmland in Romania remains an attractive investment opportunity for Danish financial institutions and companies active in the farming and food industries, due to the higher yields foreign investors achieve in the region compared to other European countries. With UniCredit Bank’s in-house legal department leading the transaction, Carsted Rosenberg advised on the Danish aspects, while Allen & Overy advised on the Romanian aspects of the cross-border arrangements.