Asters has advised the Black Sea Trade and Development Bank on its EUR 25 million short-term revolving trade finance facility to Ukraine's Concern Galnaftogaz.
"The loan will be used for the shipment of light-petroleum products and services from the EU and BSTDB’s member states including, among others, Bulgaria, Greece, and Romania to Ukraine," Asters informed. "By providing critical trade finance to Galnaftogaz, the BSTDB plays a key role in promoting Ukraine's economic development and resilience, supporting job preservation, and improving the quality of life of Ukrainian citizens."
Concern Galnaftogaz is a Ukrainian petroleum retailer company.
The BSTDB is an international financial institution that finances projects in the Black Sea Region. The bank has an authorized capital of EUR 3.45 billion and provides trade and project finance lending, guarantees, and equity participation in private companies and public entities in 11 member countries.
Asters had previously advised the Black Sea Trade and Development Bank on a USD 20 million loan to Concern Galnaftogaz back in 2018 (as reported by CEE Legal Matters on April 24, 2018). The BSTDB and Galnaftogaz partnership dates back to 2004, with more than USD 130 million in loans being provided by the bank in the meantime.
Earlier this year, Asters also advised the BSTDB on its EUR 8 million financing to the Real Estate Development Centre for the construction of a 128-room hotel in Lviv, Ukraine (as reported by CEE Legal Matters on January 9, 2023).
The Asters team included Partner Iryna Pokanay, Counsel Gabriel Aslanian, Senior Associate Inna Bondarenko, and Associate Viktoria Zagreba.
Asters did not reply to our inquiry on the matter.
