News (#10 October 2018)


Kinstellar advised IFU on a loan to Kness Group

Kinstellar has acted as Ukrainian legal counsel to the Investment Fund for Developing Countries (IFU), an agency of the Government of Denmark, in connection with a secured EUR 5.75 million loan facility to Kness Group, leading engineering, procurement and construction (EPC) group of companies in Ukraine.

Kinstellars team advising on the transaction was led by Andriy Nikiforov, counsel, Olena Kuchynska, partner, advised IFU on corporate and energy matters and Oleg Matiusha, counsel on real estate matters. Kinstellars team working on the matter also included Viktoriia Pysmenna, Oleh Andreikiv, Yulia Eismont and Oleksandr Plachynta, associates.

CMS advised on high-profile TIP Trailer Services sale

CMS Cameron McKenna Nabarro Olswang has advised HNA Group, a global conglomerate focused on aviation, tourism, logistics and financial services, on the sale of TIP Trailer Services to I Squared Capital, an independent global infrastructure investment manager.

Since its founding in 1993, HNA Group has evolved from a regional airline based on Hainan Island in southern China into a global company with over USD 145 billion in assets and more than USD 100 billion in annual revenues based on 2017 figures, primarily across America, Europe and Asia.

The CMS team was led by Graham Conlon and Valentina Santambrogio, with invaluable assistance from Jamie Burgess, Julian Goering, Nicole Gyring-Nielsen, Leo Mikros, Jennifer Tambe, Alan Omogbai, Diana Pysarenko, Elena Andrei, Jennifer Smith, Charlotte Holder, Theodora-Svetlana Sarkisian, Jennifer Watt, Simon Howley, Aaron Fairhurst, Jason Todd, Katy Baker, Caroline Hobson, John Kontogeorges, Jenny Allan, Caroline Barr, Ana Radnev, Shirley Lau, Vivian Tse, Ophelia Ma, Stephanie Shing, Calvin Leung, Martijn van der Bie, Elisabeth Von Meijenfeldt, Kirsten van Vliet, Christian Delgado, Eduard Scheenstra, Barbara Veldmaat, Tim Wilms, Gilbert Josking, Tjeerd Hoekstra, Jean Thomas Heintz, Francois Coutard, Marie Debruyne and Tristan Poncet.

Baker McKenzie assisted Bayerische Landesbank and DTEK Renewables

Baker McKenzies Kyiv, Frankfurt, Berlin and Amsterdam Offices assisted a consortium of German banks, led by Bayerische Landesbank, and DTEK Renewables to complete a significant ECA-backed finance transaction in the Ukrainian renewable energy sector, aimed at financing the construction of the first stage (100MW) of the Primorska wind electric plant (Primorska WEP) in Zaporizhzhya Region of Ukraine.

The EUR 90 million loan facilitys original lenders are, amongst others,Bayerische Landesbank, Bremer Kreditbank Aktiengesellschaft and KfW Ipex-Bank GmbH. The financing is supported by Euler Hermes, the German export credit agency.

Baker McKenzies international team was led bySerhiy Chorny, managing partner in the Kyiv office, andKathrin Marchant, partner in the Frankfurt office, and benefited from expert input by Berlin-based partnerTim Heitling, Amsterdam offices legal director Martijn van der Vlietand Kyiv associatesVictoria Ischenko,Stepanyda Badovskaand
Nataliya Tyschenko.

Asters advised EBRD

Asters acted as a legal counsel to the European Bank for Reconstruction and Development (EBRD) in connection with its USD 15 million financing to Modern-Expo Group, one of the largest manufacturers and suppliers of fixtures and equipment for retail stores and warehouses in Central and Eastern Europe.

A seven-year loan will be used to increase production volumes at the two principal manufacturing sites in Lutsk (Ukraine) and in Vitebsk (Belarus). The company will also be able to restructure its balance sheet.

Asters banking and finance team advising on the project consisted of partner Iryna Pokanay, counsel Gabriel Aslanian and associate Inna Bondarenko.

Sayenko Kharenko legal counsel to the European Fund for Southeast Europe

Sayenko Kharenko has acted as Ukrainian legal counsel to the European Fund for Southeast Europe (EFSE) in connection with Ukrainian hryvnia financing equivalent to EUR10million to PJSC Kredobank, a Ukrainian subsidiary of Polands largest bank PKO Bank Polski S.A.

The transaction included the purchase of UAH250million local corporate bonds of Kredobank, which makes it the largest non-government bond investment in Ukraine in 2018.
Kredobank will use the proceeds to offer longer-term local currency financing to micro and small enterprises (MSEs) in Ukraine.

Sayenko Kharenkos team advising on the project was led by counsel Igor Lozenko and included associates Dmytro Vasylyna, Denis Nakonechnyi, Yuri Dmytrenko and junior associate Oleksandra Maksymenko.

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