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DLA Piper and PwC Legal have advised NEQSOL on its USD 734 million acquisition of VF Ukraine from Russian telecommunications operator MTS Group, which includes USD 84 million of earn-out payment. DLA Piper also advised NEQSOL on the raising of acquisition financing for the deal from a group of international funds and financial institutions led by J.P. Morgan Securities and Raiffeisen Bank International. Latham & Watkins and Aequo advised the MTS Group on the deal, while Avellum and Linklaters advised JP Morgan and Raiffeisen Bank on the underlying financing.

Lack of diversity and under-representation that had taken deep root in legal profession worldwide also tarnished the image of international arbitration. The concept of diversity means appreciating uniqueness of each individual, admitting that different strengths come with those differences. Without doubt, diversity in gender, age, ethnicity, race, culture, political and religious beliefs, sexual orientation and socio-economic status is important and may have a game-changing role. Yet, is arbitration community ready to embrace all the good that comes with diversity?

Avellum has advised Kernel Holding S.A. in connection with an offering of USD 300 million 6.5% guaranteed notes due 2024. Joint lead managers ING Bank N.V., London Branch, and J.P. Morgan Securities plc were reportedly advised by Latham & Watkins and Sayenko Kharenko.

Ukraine is undergoing a period of structural reform throughout its financial and banking sectors that is unprecedented in its scale and complexity. The reform of the currency control regime culminated in the full cancellation of a 26-year old system and the introduction of a legislative road map for the gradual implementation of the free movement of capital. The reform gave a critical impetus to the development of the securities market and foreign investments, with Clearstream opening a direct securities account at the National Bank of Ukraine (the NBU) to provide easier access to hryvnia-denominated sovereign bonds. Ukrainian banks were authorized to grant short-term loans in local currency to foreign investors so they could invest in the bonds and hedge the FX risks of such transactions. The introduction of the IBAN standard is another example of the ongoing process of harmonizing the Ukrainian payment landscape.

Sayenko Kharenko has advised joint lead managers Raiffeisen Bank International and Renaissance Capital on the EUR 325 million Eurobond issue by DTEK Renewables, a first-ever issue of notes under the green bond framework by a business from Ukraine.

Integrites has advised UMITLI, a Turkish developer of renewable energy facilities, on the construction of three photovoltaic plants with a total capacity of 26 MW in the Dnipropetrovsk region of Ukraine. The total investment amounts to USD 30 million.

Aequo and Freshfields Bruckhaus Deringer have advised NJSC Naftogaz on Ukrainian law matters in connection with the company’s return to the market with EUR 500 million 7-year Eurobonds at 7.625% p.a., its second capital markets transaction in 2019. Avellum and White & Case advised lead-manager and book-runner Citibank.

CMS has advised a syndicate of banks led by ING and UniCredit as mandated lead arrangers on the extension and USD 100 million increase of a pre-export credit facility to Ukraine’s Kernel Group. The total available limit under the amended facility was increased to USD 390 million.

Marchenko Partners has acted as legal counsel to Western NIS Enterprise Fund in connection with the Impact Investing Program, which was initiated in 2016 in partnership with Oschadbank and Kredobank to provide social enterprises with access to Hryvnia-denominated low-interest loans.

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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