Another in our series of articles leading up to the 2020 Dealer’s Choice Law Firm Summit and Deal of the Year Awards in London.

Sayenko Kharenko has advised the JSC State Export-Import Bank of Ukraine (Ukreximbank) on its issuance of USD 100 million subordinated loan participation notes, listed on the London Stock Exchange. The notes were issued by Biz Finance Plc., which applied the total principal amount of the issue towards financing a subordinated loan to the bank. Latham & Watkins and, reportedly, Avellum, advised J.P. Morgan and Morgan Stanley, the joint leaders on the transaction, the total book order of which reached USD 300 million. White & Case reportedly advised Ukreximbank as well.

Freshfields and Avellum have advised the Netherlands-based Van Leeuwen Pipe and Tube Group on the acquisition of Benteler Distribution Ukraine, a part of the international distribution division of Benteler International AG.

DLA Piper and PwC Legal have advised NEQSOL on its USD 734 million acquisition of VF Ukraine from Russian telecommunications operator MTS Group, which includes USD 84 million of earn-out payment. DLA Piper also advised NEQSOL on the raising of acquisition financing for the deal from a group of international funds and financial institutions led by J.P. Morgan Securities and Raiffeisen Bank International. Latham & Watkins and Aequo advised the MTS Group on the deal, while Avellum and Linklaters advised JP Morgan and Raiffeisen Bank on the underlying financing.

Avellum has helped Ufuture obtain merger control clearance from the Antimonopoly Committee of Ukraine for the partial sale of its stake in LvivTech.City to unnamed buyers.

Avellum has advised Kernel Holding S.A. in connection with an offering of USD 300 million 6.5% guaranteed notes due 2024. Joint lead managers ING Bank N.V., London Branch, and J.P. Morgan Securities plc were reportedly advised by Latham & Watkins and Sayenko Kharenko.

Sayenko Kharenko has advised joint lead managers Raiffeisen Bank International and Renaissance Capital on the EUR 325 million Eurobond issue by DTEK Renewables, a first-ever issue of notes under the green bond framework by a business from Ukraine.

Aequo and Freshfields Bruckhaus Deringer have advised NJSC Naftogaz on Ukrainian law matters in connection with the company’s return to the market with EUR 500 million 7-year Eurobonds at 7.625% p.a., its second capital markets transaction in 2019. Avellum and White & Case advised lead-manager and book-runner Citibank.

Sayenko Kharenko acted as Ukrainian legal counsel to joint-bookrunners Deutsche Bank, Natixis and UniCredit on Metinvest's dual-currency Eurobond issue, which consisted of a USD 500 million 7.75% tranche and EUR 300 million 5.625% tranche. Avellum advised Metinvest on the issuance.

Vadim Medvedev, Partner and Head of Tax at Avellum, has been appointed to lead the firm’s dispute resolution practice as well.

As the country entered the 21st century, Ukraine’s Soviet-era judicial system was widely condemned as corrupt, incompetent, and inefficient. Committed to rectifying the situation, in 2015 the Ukrainian government introduced plans to reform the entire system. That transformation, which was the focus of an August 2017 CEE Legal Matters Round Table, continues today. We reached out to several of the Ukrainian dispute resolution specialists we spoke to several years ago for an update.

Cross-border commercial disputes often raise a number of issues concerning the treatment of foreign litigants in domestic proceedings. A complete overhaul of Ukraine’s procedural rules back in 2017 included a number of specific rules for foreign litigants that they must consider, especially when they have no local presence or assets in Ukraine.

In “The Corner Office” we ask Managing Partners across Central and Eastern Europe about their unique roles and responsibilities. The question this time around: What was the most difficult or unpleasant experience you had terminating someone’s employment?”

More and more companies in the TMT sector are looking at Ukraine as a potential market, in the process putting aside the negative image formed during the first decades after the country declared its independence in 1991.

Avellum has acted as Ukrainian legal counsel to MHP Lux S.A. on its USD 350 million offering of 6.250% notes due 2029. Sayenko Kharenko and Latham & Watkins advised joint lead managers and joint book-runners ING Bank N.V., London Branch, and J.P. Morgan Securities.

This April, the new EU foreign investment screening regulation entered into force, with terms scheduled to become applicable on October 11, 2020. The regulation was conceived and designed to provide member states with a valuable tool to employ in defending their strategic interests. We spoke to several experts in the region to learn more.

Avellum has advised Investment Capital Ukraine, ICU,  on the sale of its stake in several alternative energy projects in Ukraine it jointly developed with the VR Capital Group to its JV partner.

Sponsors of the 2020 Dealer’s Choice Law Firm Summit, which will be held on April 23, 2020 in conjunction with the Deal of the Year Awards Banquet, explain their involvement.