News & Deals



BOYANOV & Co. Advised Ceska Sporitelna on Refinancing of Aricoma Group’s Loan for Musala Soft AD Acquisition

BOYANOV & Co. advised Česká Spořitelna – leading a syndicate of banks including Československá obchodní banka and Komerční banka on the refinancing of a loan extended to the Aricoma Group in 2022. A segment of this loan facilitated the acquisition of Musala Soft AD, a transaction in which BOYANOV & Co. also played an advisory role.

The ARICOMA Group stands as a premier IT service provider in Central Europe, boasting a pronounced presence in the Scandinavian region. With 15 European delivery centers, the company caters to an extensive clientele, serving over 1,000 clients across 18 distinct markets.

Dentons acted as lead counsel to the lenders on the financing transaction spanning eight jurisdictions. BOYANOV & Co. was the legal advisor on the Bulgarian law aspects of the financing, including, inter alia, advice regarding the re-taking of the Bulgarian security, preparation of the relevant security agreements, their execution and perfection, the deletion of the old security, as well as issuing a legal opinion. Our team was led by Damian Simeonov, Head of the Banking and Finance practice, and included Principal Associate Ralitsa Nedkova and Associate Dimitar Mihaylov.