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Avellum and DLA Piper Advise on Vodafone Acquisition and Financing

Avellum and DLA Piper Advise on Vodafone Acquisition and Financing

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Avellum has advised arrangers J.P. Morgan Securities Plc and Raiffeisen Bank International AG on a USD 464 million bridge loan financing for Bakcell’s acquisition of PSJC Vodafone Ukraine. DLA Piper advised Bakcell on the deal.

Avellum also advised JP Morgan Securities Plc, Raiffeisen Bank International, Dragon Capital, and ICBC Standard Bank as joint lead managers on Vodafone Ukraine’s Eurobond offering of USD 500 million 5-year 6.2% loan participation notes, proceeds of which were intended for the bridge loan prepayment, among other things. DLA Piper advised Vodafone Ukraine on the issuance.

Avellum describes Bakcell, which is part of the NEQSOL Holding group of companies, as "a mobile operator and the leading mobile internet provider in Azerbaijan." 

According to DLA Piper, “the proceeds of the issued notes will be advanced to Ukrainian telecom business of NEQSOL to refinance a syndicated bridge facility and for general corporate purposes of telecom businesses. This is an important transaction for the Ukrainian market as the interest rate marks the lowest USD coupon achieved by a corporate issue from Ukraine and is the first takeout loan with a two-year call option.”

Avellum's team was led by Senior Partner Glib Bondar with support from Partner Vadim Medvedev, Senior Associates Anton Zaderyholova, Tetiana Mykhailenko and Anastasiya Voronova, and Associates Yelyzaveta Kravtsova, Oleg Krainskyi, Anna Mykhalova, and Mariana Veremchuk.

DLA Piper's Kyiv-based team included Partners Illya Sverdlov, Galyna Zagorrodniuk, and Oleksandr Kurdydyk, Senior Associate Dmytro Rylovnikov, Legal Directors Natalia Kirichenko and Dmytro Pshenychniuk, Associates Olena Stanishevska, Ivan Shatov, and Viktoriia Luganska, and Junior Associates Kateryna Tyshchenko and Andrii Falendysh. The firm's London-based team consisted of Partners Mark Dwyer, Ben Brown and Tony Lopez, Senior Associate Mei Mei Wong, and Associates Elvis Dangol, Michael Graham, and Elizabeth Baek.

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com


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