AVELLUM advised largest Ukrainian brick manufacturer on restructuring and refinancing of its debt
AVELLUM acted as the Ukrainian legal counsel to Private Joint Stock Company with Foreign Investments Slobozhanska Budivelna Keramika (SBK) in connection with the restructuring and refinancing of SBK’s debt, valued at approximately EUR 20 million. Atlas Advisors, an independent investment banking firm, acted as the exclusive financial advisor to the SBK’s shareholders in connection with the restructuring of the credit portfolio, attraction of financing for the debt’s refinancing, and buy-out of SBK’s shares.
The deal covered (1) the restructuring and refinancing of SBK’s debt to an international financial institution (IFI) and a number of foreign and Ukrainian banks, and (2) a new refinancing facility from another Ukrainian bank. Following the restructuring, the IFI and the Banks left the deal.
Within the equity part of the deal, SBK’s shareholders repurchased from the IFI and one of the Banks those SBK’s shares that were previously sold to them by way of security.
The AVELLUM team was led by partner Yuriy Nechayev, with support from associates Tetiana Mykhailenko, Dmytro Tkachuk, Oleksandr Kulykovskyi, and Anna Mykhalova.