News (#3 March 2020)

Deals

Baker McKenzie assisted BSTDB

The Kyiv office of Baker McKenzie acted as Ukrainian law counsel to the Black Sea Trade and Development Bank in connection with their up to USD 70 million loan to Epicentr K LLC and Renvior Trading Limited. The loan will support the Groups agriculture business program for 2019-2021, particularly the construction of three new and modernization of four existing grain silos and the purchase of agricultural machinery. Baker McKenzies team was led by managing partnerSerhiyChornywith key input from associateGannaSmyrnova.

Kinstellar Ukrainian legal counsel to DEG

Kinstellar has acted as Ukrainian legal counsel to DEG Deutsche Investitions und Entwicklungsgesellschaft mbH, a development finance institution and subsidiary of KfW Bankengruppe, in connection with a USD20 million credit facility for Nibulon, a leading agricultural commodities exporter and producer in Ukraine. In addition to the work that is usual for this type of transactions, Kinstellars team has also extensively advised DEG on the mortgaging of ships as well as on various types of vessels related to insurance. Kinstellars team advising on the transaction was led by Andriy Nikiforov, counsel, and included Anna Kalinichenko, Oleh Andreikiv, senior associates, Oleksiy Burchevskyy, knowledge lawyer, maritime and transport law, and Viktoria Pysmenna, associate.

AVELLUM advised on Ukraines new benchmark euro-denominated notes

AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine on the second breakthrough issuance of Ukraines euro-denominated notes. Ukraine raised EUR 1,25 billion at a record low coupon of 4.375%. The new notes mature in 10 years. This deal followed the EUR 1 billion 6.75% issue that Ukraine carried out in July 2019, which was the countrysfirst Euro offering in over a decade.

The AVELLUM team was led by senior partner Glib Bondar with support from associates Oleg Krainskyi, Mykola Falko, Mariana Veremchuk, Andriy Kornuta, and Vladyslav Heivandov.

Joint venture transaction between TIS Group and DP World

Kyiv-based CMS Cameron McKenna Nabarro Olswang has advised TIS Group on the English and Ukrainian law aspects of a joint venture transaction whereby DP World, one of the worlds largest port operators, enters Ukraine directly for the first time. As part of the transaction, DP World agreed to acquire control of TIS Container Terminal Ukraine, the deepest and most technologically advanced container terminal in the Ukrainian Black Sea port of Yuzhnyi.

The CMS team was led by corporate/M&A partner Tetyana Dovgan and Graham Conlon, managing partner of the Kyiv office, and included Vitalii Mainarovych, Diana Pysarenko, Mariana Saienko, Denys Hatseniuk, Olga Belyakova, Nataliya Nakonechna, Mykola Heletiy, Oleksandr Sytnyk, Olga Shenk and Vladyslav Kurylko and Christian Delgado (Amsterdam).

Marchenko Partners advised DP World. The deal is being handled by Marchenko Partners corporate team including partner Roman Shulyar, and associates Ruslan Yurchenko, Alexander Poznyakov and Bogdan Burlaka. Legal support on antitrust matters is provided by partner Oleksandr Aleksyeyenko and senior associate Sviatoslav Henyk.

Baker McKenzie advised shareholders of Biopharma

The Kyiv office of Baker McKenzie advised the shareholders of Biopharma, a leading Ukrainian manufacturer of pharmaceuticals and healthcare products, on the carve-out of its non-plasma business and its further sale to Stada AG, a global manufacturer of pharmaceuticals and consumer healthcare products. The Baker McKenzie team was co-led by Kyiv office partnersViacheslav Yakymchuk, head of the Corporate M&A practice group, andOlha Demianiuk, head of the Healthcare & Life Sciences industry group, with key input from associatesAndrii Finogin,Olha SviatenkaandKhrystyna Penyk, and London-based senior corporate associateRobert Gray. The team also included antitrust and competition partnerOksana Simonovaand senior associateOlha Mikheieva.

Sayenko Kharenko advised on landmark EUR 1.25 billion Eurobond issue by Ukraine

Sayenko Kharenko has acted as Ukrainian legal counsel to BNP Paribas, JP Morgan and Raiffeisen Bank International, the joint lead managers of Ukraines record-setting EUR1.25 billion Eurobond issue. The notes have a 10-year tenure and a coupon of 4,375% per annum, which is the lowest pricing for Ukraines euro-denominated debt.

Sayenko Kharenkos team was led by Igor Lozenko and included associates Oles Trachuk, Yurii Dmytrenko, and junior associates Oleksandra Maksymenko and Oleksandr Motin.

AVELLUM advised on Vodafone Ukraine acquisition and Eurobond financings

AVELLUM acted as the Ukrainian legal counsel to: J.P. Morgan Securities Plc and Raiffeisen Bank International AG as the arrangers in USD 464 million bridge loan financing for Bakcells acquisition of PJSC VF Ukraine structured through purchase from MTSs wholly-owned subsidiary Allegretto s.a.r.l of its 100% stake in Dutch subsidiary Preludium B.V., the sole shareholder in Vodafone Ukraine; and JP Morgan Securities Plc, Raiffeisen Bank International, Dragon Capital, and ICBC Standard Bank as joint lead managers on Vodafone Ukraines Eurobond offering of USD 500 million 5-year 6.2% loan participation notes, the proceeds of which were intended for, among others, the bridge loans prepayment.

The AVELLUM team was led by senior partner Glib Bondar with support from senior associates Tetiana Mykhailenko and Anastasiya Voronova, and associates Oleg Krainskyi, Anna Mykhalova, and Mariana Veremchuk. Partner Vadim Medvedev, senior associate Anton Zaderyholova, and associate Yelyzaveta Kravtsova provided support on tax issues for the transaction.

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