Avellum Partners advised Donetsksteel on USD 500 million syndicated pre-export finance facility
Avellum Partners - Ukrainian legal counsel to Donetsksteel group in connection with USD 500 million syndicated pre-export finance facility extended by ING Bank N.V., PJSC ING Bank Ukraine, Unicredit Bank AG, PJSC Ukrsotsbank, VTB Bank (France) SA, VTB Bank (Deutschland) AG, Raiffeisen Bank International AG, PJSC Raiffeisen Bank Aval, East-West United Bank S.A.
The classic pre-export structure of the facility is enhanced by a pledge over the fixed assets of one of the group’s key operating companies – the Makeevkoks Coking Plant – with potential release as a condition subsequent upon fulfillment of certain conditions. The facility will be used to refinance existing debt, except for USD 50 million, which will be used for general corporate purposes.
The Avellum Partners team was led by partner, Glib Bondar, with significant support from associates, Artem Shyrkozhukhov and Taras Dmukhovskyy.