NEWS (August 22, 2011)

Avellum Partners advised UPD

Avellum Partners acted as Ukrainian legal counsel to UPD (Ukrainian Property Development) Holdings Ltd in connection with a USD 60 million syndicated secured guaranteed loan facility arranged by Bank of America N.A., London Branch secured by a guarantee from a major Russian bank and certain assets of UPD’s Ukrainian project companies.

The loan facility will be used inter alia to refinance the existing secured non-revolving credit facility related to the construction of the multi-unit residential properties Novopecherski Lipki and Parkove Misto.

The Avellum Partners team was led by partner Glib Bondar with significant input from associates Olena Polyakova and Artem Shyrkozhukhov.

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