Avellum acted as Ukrainian legal counsel and White & Case provided English-law advice to the Ministry of Finance of Ukraine in connection with two syndicated EUR-denominated facilities arranged by Deutsche Bank in December 2018 and March 2019 for a total amount equivalent to approximately USD 1 billion. Sayenko Kharenko and Clifford Chance reportedly advised Deutsche Bank. Reed Smith reportedly was English law counsel to the facility agent, TMF Global Services Limited.
Both facilities benefited from a policy-based guarantee from the International Bank for Reconstruction and Development, which, Avellum reports, "allowed for attractive commercial terms, including the 4.5-year grace period for a substantial portion of the financing."
The Avellum team was led by Senior Partner Glib Bondar, with support from Associates Oleg Krainskyi, Anastasiya Voronova, and Oleksandra Kupriichuk.
The White & Case team included London-based Partners Ian Clark and James Hardy, Stockholm-based Counsel Michael Bark-Jones, and London-based Associate Sarah Goodwin.