News (#07-08 July-August 2017)

Deals

Asters — legal counsel to IFC

Asters acted as a Ukrainian law counsel for the International Finance Corporation (IFC), a member of the World Bank Group, in connection with a loan of up to USD 100 million to Nibulon, one of the largest Ukrainian grain and oilseeds originators and exporters.

IFC will provide up to USD 60 million for its own account in debt financing, and mobilize approximately USD 40 million in debt from other lenders. The financing will be used for modernizing and expanding Nibulon’s port transshipment terminals and also to refinance short-term debt.

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

 

Baker McKenzie advised International Finance Corporation

Baker McKenzie’s Kiev office has advised International Finance Corporation, a leading international investor in Ukraine’s private sector, on providing an eight-year loan worth around UAH 400 million (about USD 15 million) to Auchan Retail, which makes up the existing food retail channels in all countries:  hypermarkets, convenience stores and e-commerce. Auchan Retail will use the loan to finance its long-term investments in Ukraine to support the development of local supply chains and improve standards on the domestic retail market.

Baker McKenzie’s Kiev team that worked on this transaction was led by Kiev partner Serhiy Chorny, with key input from senior associate Dmytro Orendarets and associate Ganna Smyrnova.

 

AVELLUM — legal advisor to MHP

AVELLUM acted as Ukrainian legal advisor to MHP S.A. on the benchmark USD 500 million, 7 year, 7.75% Eurobond issue with the benefit of guarantees from its Ukrainian subsidiaries. The joint lead managers on the transaction were J.P. Morgan Securities plc and London Branch of ING Bank N.V.

The Eurobond issue was coupled with the cash tender offer for MHP’s outstanding USD 750 million 8.25% bonds due in 2020, with USD 245.2 million of which were tendered by bondholders.

The AVELLUM team was led by senior partner Glib Bondar and counsel Igor Lozenko, with support from senior associate Vadim Medvedev and associates Anna Melnychuk, Pavlo Shevchenko, Yuriy Zaremba, Tetiana Mykhailenko, Anastasiya Voronova, Orest Franchuk, Dmytro Tkachuk, Olga Tersina and Vladyslav Aleksandrov.

 

Vasil Kisil & Partners advised Camozzi

In July 2017 Camozzi LLC has finalized the purchase of an industrial site from Solum LLC. Vasil Kisil & Partners acted as a legal counsel to Camozzi Group. Camozzi LLC is the Ukrainian subsidiary of Camozzi s.p.a., an Italy-based international producer of high-quality pneumatic industrial automation solutions with a global sales network encompassing more than 70 countries. Solum LLC is a Ukrainian real estate company associated with Piraeus Bank Group. The transaction was accomplished through a letter of credit from Ukrsibbank BNP. The project team of Vasil Kisil & Partners included Alexander Borodkin, partner, and Roman Riabenko, associate.

 

AEQUO — legal counsel to Agroprosperis Bank

AEQUO has advised Agroprosperis Bank, the Ukrainian asset of the private equity fund managed by NCH Capital (USA), on the issue of additional shares in the course of increasing the registered capital to UAH 210 million. Having successfully completed the capitalization procedure, Agroprosperis Bank fulfilled the legislative requirement as to mandatory increase of banks’ registered capitals up to UAH 200 million by 11 July 2017. The additional funds raised by the bank from its shareholder will be used to support the bank’s liquidity and lend to agricultural producers.

The project was supported by counsel Maryna Fedorenko, who worked under the supervision of partner Yulia Kyrpa, in cooperation with in-house lawyers of Agroprosperis Bank.

 

AVELLUM advised Kernel Holding S.A.

AVELLUM advised longstanding client Kernel Holding S.A. on the acquisition of a 100% shareholding in a farming business that manages over 170,000 tons of grain storage capacity and over 27,500 hectares of leasehold farmland by one of its subsidiaries. Total consideration of the deal was USD 43.3 million and paid in cash. The Antimonopoly Committee of Ukraine approved the acquisition in May 2017.

Kernel is the largest Ukraine-based diversified agribusiness company in the Black Sea region with a share listing on the Warsaw Stock Exchange. It is also a leading exporter of, sunflower oil and grains.

The AVELLUM team was led by counsel Yuriy Nechayev, with support from fellow associates Andriy Romanchuk, Andriy Gumenchuk and Dmytro Symbiryov, under the general supervision of managing partner Mykola Stetsenko.

 

AEQUO acted as legal advisor to Industrialbank

AEQUO advised JSCB Industrialbank in the course of restructuring UAH 410 million worth of debt under a loan granted to a Ukrainian borrower — Bestment-Service LLC — and secured by the mortgage of the Plazma Shopping and Entertainment Centre.

AEQUO team was supervised by partner Yulia Kyrpa and included senior associate Denys Kulgavyi and associate Valeriy Savva.

 

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