Asters and White & Case LLP (UK) have acted as legal counsels to PJSC Ukrzaliznytsia, the Ukrainian public railway company, in connection with the restructuring of USD 500 million 9.5 per cent loan participation notes due 2018. The reprofiling includes exchanging the 2018 notes for the new USD 500 million 9.875 per cent notes due 2021 and an amending of the loan agreement.
Ukrzaliznytsia (Ukrainian Railways) Public Joint Stock Company is a public railway network operator in Ukraine that controls a majority of the railroad transportation in the country with a combined total length of track of over 23,000 kilometers, which makes the it the 14th largest railroad network in the world. According to Asters, "Ukrzaliznytsia is also the world's 6th largest rail passenger transporter and world's 7th largest freight transporter."
Asters advisory role included legal support on Ukrainian law matters, assistance in negotiating and drafting transaction documents, registration of amendments to foreign loans with the National Bank of Ukraine, assistance in obtaining all necessary regulatory approvals, and advising on banking and finance and other Ukrainian law matters.
The Asters team consisted of Senior Partner Armen Khachaturyan and Associates Olena Nikolenko and Oleksandr Khomenko.
