Deals (#04 April 2015)

Deals

EPAP Ukraine advised on USD 500 million exchange offer made by Ferrexpo

EPAP Ukraine has advised Credit Suisse and Morgan Stanley as joint dealer managers on an exchange offer for USD 500 million 7.875% guaranteed notes due 2016 issued by Ferrexpo Finance plc. The exchange offer was completed on 24 February 2015. Ferrexpo Finance plc issued USD 160,724 million 10.375% guaranteed amortizing notes due 2019 in the course of restructuring of the existing USD 500 million 7.875% guaranteed notes due on 7 April 2016. The new bonds are guaranteed by Ferrexpo plc, Ferrexpo Middle East FZE and Ferrexpo AG and benefit from the suretyship of Ferrexpo Poltava Mining and were issued under Regulation S and Rule 144A of the U.S. Securities Act of 1933. EPAP Ukraine also advised UBS, J.P.Morgan and Morgan Stanley, the joint lead managers on the original issue earlier in April 2011.

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for over 35 years.

The firm’s deal team included senior associate Kateryna Oliynyk, associate Oleksii Latsko and was led by partner Roman Stepanenko.

 

Vasil Kisil & Partners —  legal advisor to one of the largest banks in Ukraine

Vasil Kisil & Partners acted as a legal advisor to one of the largest and innovative banks in Ukraine on online microlending project launch. The project initially provided for business-to-peer (В2Р) consumer lending, with the prospect of expanding to include Р2Р and Р2В lending services. Vasil Kisil & Partners’ lawyers conducted a comprehensive review of the legislative regulation of lending and borrowing relationships in Ukraine, in particular requirements for lenders, borrowers and other participants in microlending, verification and KYC processes applicable to borrowers, while also focusing on the issues of financial monitoring, use of electronic signatures, possibility of outsourcing the collection, scoring, call center, accounting and legal services, and other related matters. The firm’s lawyers also offered an optimal structure for building relations between lending companies, servicing banks, Internet platforms, acquirers, and borrowers. Legal support for the project was provided by the lawyer team at the firm’s banking and finance practice group, including partner Alexander Borodkin, counsellor Anna Sisetska and associate Olena Nikolenko.

 

CMS Cameron McKenna advised Horizon Capital and Zubr Capital

CMS Cameron McKenna in Kiev acted for Horizon Capital and Zubr Capital in relation to the sale of MTBank, the largest private bank in Belarus and one of the fastest growing banks in the country. Horizon Capital and Zubr Capital sold their stake to a local investor. The CMS team was led by Graham Conlon, an English-qualified partner, the global co-head of International Private Equity and head of сorporate and M&A practice at CMS Cameron McKenna in Ukraine, and included Tetyana Dovgan and Olga Belyakova.

 

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