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Redcliffe Partners and Clifford Chance Advise EBRD on Risk Sharing Arrangements with Raiffeisen Bank Aval

Redcliffe Partners and Clifford Chance Advise EBRD on Risk Sharing Arrangements with Raiffeisen Bank Aval

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Redcliffe Partners has advised the EBRD in relation to the unfunded risk participation agreement with Raiffeisen Bank Aval of a total value of EUR 20 million. On English law, the EBRD was advised by Clifford Chance, while Bank Aval used its internal legal department.

As agreed, the EBRD and Raiffeisen Bank Aval will share credit risk in certain loans to be provided by Raiffeisen Bank Aval to its clients.

According to Redcliffe Partners, "the risk sharing concept is new for Ukraine. To make it work as intended by the parties, Redcliffe developed a number of sophisticated Ukrainian law structures. In addition to this, its lawyers reviewed the risk participation agreement and from the perspective of Ukrainian law, analyzed tax and provisioning issues, and implemented standard EBRD provisions in the local loan and security agreement templates."

Redcliffe’s team included Managing Partner Olexiy Soshenko and Associate Olesia Mykhailenko.

The Clifford Chance team consisted of Managing Partner Jared Grubb and Senior Associate Michael Andersonl.

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