Asters has advised the Black Sea Trade and Development Bank in connection with its USD 20 million financing to PJSC Concern Galnaftogaz, a Ukrainian chain of gas stations.
According to Asters, the seven-year loan will assist Concern Galnaftogaz to expand and upgrade its network of gas filling stations and meet its working capital needs. The project will generate new jobs and increase tax revenues in the country, and will have a solid 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 team consisted of Partner Iryna Pokanay, Counsel Gabriel Aslanian, and Associate Inna Bondarenko.