Avellum has advised the Black Sea Trade and Development Bank on a long-term secured loan of up to USD 10 million to Butsefal LLC and Prometey Swiss SA.
The BSTDB is an international financial institution established by eleven countries in the Black Sea region. The Prometey Group has been operating on the grain market of Ukraine for more than 20 years, providing services for buying, storing, and processing grain and oilseeds, as well as ancillary logistics.
According to Avellum, “part of the loan proceeds were used for the acquisition of a new silo in the Mykolaiv region [of Ukraine] which has a total storage capacity of up to 62 thousand tonnes and is the first steel silo in the portfolio of the Prometey group. The remaining proceeds are intended for the acquisition of another silo and general replenishment of working capital. The provided loan will allow the Prometey group to strengthen its ranking position on the list of Ukrainian storage capacity leaders.”
Avellum’s team was led by Senior Partner Glib Bondar and included Counsel Maksym Maksymenko, Senior Associate Tetiana Mykhailenko, and Associates Anastasiia Zhebel, Daryna Mykhailenko, Dmytro Radzivon, and Mariana Veremchuk.