Asters is providing legal counsel to the Black Sea Trade and Development Bank in connection with its USD 5 million financing to Novotech-Terminal Ltd., a Ukrainian private stevedoring company.
Headquartered in Thessaloniki, Greece, the Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine to supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion.
Novotech Terminal is a private stevedoring company that was established in 2004 at the Odessa Sea Trade Port in Ukraine. The company is involved in export, import, and transit operations with direct loading of metal and grain through warehousing. According to Asters, "the seven-year loan will assist the company in expanding and modernizing its grain terminal transshipment complex in the major Odessa Sea Trade Port. The Novotech development plan targets to increase the grain terminal’s capacity up to 2.5 million tons per year."
The Asters team on the project consisted of Partner Iryna Pokanay, Counsel Gabriel Aslanian, and Associate Inna Bondarenko.
