Bešeňová Water Park (source: TMR)
There have been no changes in the top two positions from last year in the latest Largest Law Firms ranking of the top ten law firms in banking and finance, compiled for the ninth consecutive year by SME and The Slovak Spectator.
Banking & Finance: 10 largest law firms
Allen Overy Shearman Sterling
Dentons
CMS Slovakia
BBH
WOLF THEISS
Advokátska kancelária RELEVANS
Bartošík Šváby
Hillbridges
Škubla & Partneri
Kinstellar
Ranking created based on the following criteria (values for 2023): number of B&F deals with regard to reward law firm received for them (70% weight); sales revenues (10% weight); points for number of lawyers (20% weight). The ranking reflects also the proportion of each firm’s hours spent on this category.
The leading firms in this segment remain Allen Overy Shearman Sterling and Dentons. They have been the leading firms in this segment for years. Each of the ten largest firms provided a notable reference transaction considered significant for their practice.
When it comes to banking and finance, references provided by the largest Slovak law firms are mostly the same; they mainly involve legal support for bond issuance, loan refinancing, and real estate loan financing.
TMR's rights offering
Allen Overy Shearman Sterling cited Tatry Mountain Resorts (TMR) as its reference deal. TMR, the largest player in Slovak tourism, owns several ski resorts and aqua parks.
Its lawyers provided legal guidance for TMR's rights offering, valued at €120 million, and assisted in obtaining €180 million in loans from a consortium of Slovak, Czech, and Polish banks. Additionally, TMR received another €110 million from J&T Banka, intended to secure financial stability and manage debt.
TMR's CEO, Igor Rattaj, stated that the new capital structure would significantly reduce debt service costs, freeing up resources for the company's growth.
"This was one of the largest and most complex ECM transactions (totalling €410 million - Ed. note) in the Central and Eastern Europe region over the past decade," noted Renátus Kollár, a partner at A&O Shearman.
Tomáš Búry and Peter Jedinák from Allen Overy Shearman Sterling, the largest law firm in Slovakia in category Banking & Finance. (source: Jozef Jakubčo)
Dentons, which placed second in the Largest Law Firms ranking, represented Tatra Banka. The latter was the leading financial institution in the consortium of banks providing loans to TMR. In addition to Tatra Banka, the consortium included UniCredit Bank, Slovenská Sporiteľňa, PKO Bank Polski, ČSOB, Česká Spořitelna, and Raiffeisenbank ČR. According to Dentons' partner Patricia Gossányiová, the transaction was a "unique combination between a senior secured financing and a junior secured financing".
