Asters has advised the Black Sea Trade and Development Bank on a USD 20 million loan to Concern Galnaftogaz, a Ukrainian petroleum retailer company.
According to Asters, the seven-year loan is meant to assist Galnaftogaz with the expansion and upgrading of its network of gas filling stations and to meet its working capital needs. The project, the firm reports, is expected to generate new jobs, increase tax revenues in the country, and have a regional cooperation impact from servicing regional transportation flows.
The Black Sea Trade and Development Bank and Galnaftogaz established their partnership in 2004. Since then, the bank has provided USD 87 million to Galnaftogaz .
The Asters banking and finance team consisted of Partner Iryna Pokanay, Counsel Gabriel Aslanian, and Associate Inna Bondarenko.