News (#11 November 2019)

Deals

AVELLUM advised MHP on USD 350 million Eurobond issue

AVELLUM acted as the Ukrainian legal counsel to MHP Lux S.A. on the USD 350 million offering of 6.250% notes due 2029. The transaction was structured as an offering of Notes guaranteed on a senior basis by MHP SE and certain of its Ukrainian and Cypriot subsidiaries.

ING Bank N.V., London Branch, and J.P. Morgan Securities plc acted as joint bookrunners and joint lead managers.

MHP Group is a leading agro-industrial company in Ukraine and one of the largest poultry producers in South-east Europe.

The AVELLUM team was led by senior partner Glib Bondar with support from associates Anastasiya Voronova, Oleg Krainskyi, Orest Franchuk, Anna Kalabska, and Mariana Veremchuk and tax support from partner Vadim Medvedev, associates Anton Zaderyholova, and Yelyzaveta Kravtsova.

CMS advised EBRD on green logistics loan

CMS has advised the European Bank for Reconstruction and Development (EBRD), the largest international financial investor in Ukraine, on a loan of up to USD 35 million that will support the Louis Dreyfus Company, the worlds largest agricultural trader, to establish its own railcar logistics business in Ukraine.

The investment is significant for the EBRD in Ukraine, where more than EUR 13 billion has been invested to date to facilitate projects for companies in key sectors. The loan funds will be used to acquire up to 1,000 grain-hopper railcars, which will allow grain-handling logistics while reducing truck transport and lowering annual CO2 emissions by 8,510 tonnes.

The CMS team was led by Mark Segall, partner and head of Finance CEE/CIS and was supported by Vyacheslav Ovechkin (Kyiv) and Monika Kowara (Warsaw), with additional support from Ivan Pshyk (Kyiv) and Eduard Scheenstra and Jenny Noordermeer (Amsterdam).

KPMG Law Ukraine acted as legal advisor to Slovak company E-Group

KPMG Law Ukrainehas completed legal support of the M&A agreement on the side of an international investor the Slovak companyE-Groupwhich, together withUDP Renewables, an investment and development company, launched the solar power plant Port Solar in Izmayil (Odessa Region) with peak power of 8.6 MW.

SSP Port Solar covers an area of 16 hectares. More than 25,700 solar panels are installed at the plant. This number of modules make it possible to generate about 11,830 MWh of electricity per annum, which is sufficient to meet the needs of at least 3,200 households.

The KPMG Law Ukraine team worked at the project with directorYuri Katser, adviserYaroslav Cheker, senior lawyerGleb Demych,and lawyerLiliya Sysin.

Redcliffe Partners advised EBRD on a USD 56 million loan to Kernel

Redcliffe Partners acted as a legal adviser to the European Bank for Reconstruction and Development in connection with a USD 56 million term secured loan, including USD 8 million tranche funded by the Clean Technology Fund, to be provided to four Ukrainian members of the Kernel Group, the worlds leading (and the largest in Ukraine) producer and exporter of sunflower oil, and a major supplier of agricultural products.

The loan will be used to finance the construction of four biomass plants with an aggregate capacity of 47MW at the existing production facilities of the borrowers located in Ukraine to use sunflower husk (a biomass residue produced in the crushing process) as biofuel to generate electricity.

Redcliffe Partners team advising on the transaction consisted of Olexiy Soshenko, managing partner,Evgeniy Vazhynskiy, senior associate, and Eduard Olentsevych, junior associate.

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