CMS assisted KEXIM
A multi-office team from CMS Cameron McKenna Nabarro Olswang has advised the Export-Import Bank of Korea (KEXIM), the export credit agency of South Korea, on a secured USD 36 million financing to Grain Terminal Holdings, a Singapore-based joint venture between Posco International (Korea’s largest trading company) and the Orexim Group, that controls a Ukrainian grain terminal (MMW) based in Mykolaiv. The security package includes a mortgage over the Ukraine-based port terminal and security over shares in various companies within the joint venture group.
MMW used the on-lent proceeds to refinance an earlier loan from The Black Sea Trade & Development Bank used to modernise and expand MMW increasing its annual grain storage capacity to 2.5 million tons.
The CMS team included the following lawyers from three offices: partner Elitsa Ivanova and associate Katerina Hristova (Sofia); partner Ihor Olekhov, counsel Kateryna Chechulina, senior associate Orest Matviychuk and associates Ivan Pshyk and Iryna Kravchenko (Kyiv); partner Toby Grainger, senior associate Sam Ng and associate Eric Lai (Singapore).
Sayenko Kharenko advised on USD 2 billion Eurobond issue and related switch tender offer by Ukraine
Sayenko Kharenko has acted as Ukrainian legal counsel to J.P. Morgan and Goldman Sachs International, the joint lead managers of Ukraine’s new USD 2 billion Eurobond issue. The notes have a 12-year maturity and bear interest at 7.253% per annum. Alongside the new issue, Ukraine has also completed a switch tender offer in relation to its existing 7.75% senior notes with maturity in 2021 and 2022, which will substantially reduce state debt expenditures in the coming years.
Sayenko Kharenko’s team was led by partner Igor Lozenko, along with associates Oles Trachuk and Vladyslava Mitsai.
Asters advised EBRD and IFC on USD 70 million financing to Galnaftogaz
Asters acted as a Ukrainian law counsel to the European Bank for Reconstruction and Development and International Finance Corporation, a member of the World Bank Group, in connection with their loans to JSC Concern Galnaftogaz.
The EBRD and IFC are providing long-term corporate loans to finance the company’s CAPEX and working capital needs. The project implementation will allow the company to develop GNG’s Farmer-Supply Program, improve its logistics infrastructure and grow its fuel stations network, including the installation of electric charging stations.
Asters’ banking and finance team advising on the project consisted of partner Iryna Pokanay, counsel Gabriel Aslanian and associates Inna Bondarenko and Viktoria Zagreba.
AVELLUM advised Argus Media Ltd
AVELLUM acted as the Ukrainian legal counsel to Argus Media Ltd on the acquisition of Agritel International, a subsidiary of Agritel, an expert provider of information, consulting, and forecasting on agricultural and agro-industrial markets.
AVELLUM conducted legal due diligence of the Ukrainian part of the target business and advised Argus Media Ltd on certain transaction matters.
White & Case LLP acted as the global legal counsel to Argus Media Ltd.
The AVELLUM team was led by managing partner Mykola Stetsenko, with support from associates Maryna Buinytska, Bogdana Parkhomchuk, and Khrystyna Bayurchak.
CMS advised EBRD on renewable energy investment in Ukraine
CMS Cameron McKenna Nabarro Olswang in Kyiv advised the European Bank for Reconstruction and Development on a loan of approximately USD 13.9 million to Irshanska SES LLC. The loan proceeds are designed to support the construction and operation of the 30 MW solar power plant in the Zhytomyr Region of Ukraine.
CMS acted on all aspects of the project development and financing across five jurisdictions, including the negotiation of all transactional documents, as well as related advice on real estate, banking and finance, energy regulatory issues and due diligence aspects.
The CMS team was led by Mark Segall (partner, head of Finance CEE/CIS), and included Vitaliy Radchenko (partner, Energy & Projects, CMS Kyiv), Ihor Olekhov (partner, head of Banking & Finance, CMS Kyiv), Natalia Kushniruk (partner, Real Estate and Construction, CMS Kyiv) Benoît Vandervelde (associate partner, Banking & Finance, CMS Belgium), Vivian Walry (partner, head of Banking & Finance, CMS Luxembourg), Elitsa Ivanova (partner, Banking & Finance, CMS Bulgaria), with additional support from senior associate Volodymyr Kolvakh, associate Anatolii Doludenko and lawyer Ivan Pshyk.