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BGI Legal advises the lenders on the USD 250 million facility to Adjaristsqali Georgia

BGI Legal's team, led by Lasha Gogiberidze and Sandro Bibilashvili, has just completed its advice to the lenders on the USD 250 million facility to Adjaristsqali Georgia in respect of the financing of the largest private hydropower investment project in Georgia, the Shuakhevi hydropower scheme. The project aims to export power to Turkey by the end of 2016 for nine months each year through the 400kV cross-border Akhalskhe-Borcka transmission line and sell domestically for the remaining three consecutive winter months.

The lender group of Asian Development Bank, European Bank for Reconstruction and Development and International Finance Corporation together provided  a loan facility of USD 250 million. IFC was a lead arranger for the financing and is also an equity investor in the project company. The sponsors of the project are India's Tata Power (40%), Norway's Clean Energy Invest (40%), and IFC (20%).

"One of the leading firms in Georgia adept at both finance and corporate work". Client feedback: "Very good law firm for this jurisdiction. Strong knowledge." - Banking and finance, Restructuring and insolvency. Of Lasha Gogiberidze: "Good communication skills, responsive." Previous comments have included: "BGI Legal is one of the leading firms in Georgia adept at both finance and corporate work...Very good law firm for this jurisdiction...very knowledgeable, they get the job done on time and on budget". Lasha Gogiberidze is described as "prompt and quick to point out problems and pitfalls".

IFLR1000 - 2018

Zaza Bibilashvili is able to suggest winning strategies and is active across a range of contentious and non-contentious work, including real estate and intellectual property matters. Previous comments include: BGI Legal fields ‘a team of true professionals with good knowledge of law and a proper understanding of business needs`. It provides full-service support to leading multinational and Georgian clients, handling general legal matters alongside more complex financing, M&A, dispute resolution and capital markets mandates.

Legal 500 - 2016

Legal director Unana Gogokhia focuses on financial transactions, and stands out for her experience of capital markets and derivatives. Clients appreciate her ability to "look at the issue very scrupulously and bring up points in the transaction that none of the other parties spotted." Sandro Bibilashvili is increasingly recognised in the market. He is involved in some of the firm's biggest project finance mandates and has recently been active working on energy projects. Counsel Tamara Tevdoradze enters the rankings on the back of positive praise. "She is very reliable, accurate and punctual, thinks in a very logical way and has very strong arguments," a client says

Chambers Global - 2017