Sayenko Kharenko has advised PJSC Toronto-Kyiv on the complex restructuring of a cross-border syndicated loan facility from PJSC Alfa-Bank raised to develop the Toronto-Kyiv Business Center located in downtown Kyiv.
With the amount of restructured debt of approximately USD 100 million, the deal is reported to be the biggest financial restructuring completed under the recently enacted Financial Restructuring Law of Ukraine.
The Toronto-Kyiv Complex, which is located in the heart of the historical & business district in Kyiv, consists of Class A office premises, retail space, restaurant areas, five floors of underground parking, and a Holiday Inn Kyiv hotel, managed by the InterContinental Hotels Group.
Sayenko Kharenko’s team was led by Counsel Oleksandr Nikolaichyk assisted by Associates Daryna Dashkevych, Oksana Daskaliuk, and Mykhailo Grynyshyn, under the general supervision of Partner Michael Kharenko. Partner Nazar Chernyavsky and Counsel Anton Korobeynikov advised on the application of financial restructuring procedures under the new law.