DLA Piper has advised Ukrainian Public Joint Stock Company Bank Finance and Credit in a refinancing transaction of US$95 million Eurobonds, due in 2014, on matters of English, US, Ukrainian and Dutch law.
Bank Finance and Credit has refinanced its Loan Participation Notes (LPNs) due in 2014 with the issuance of new US$100 million 9.25% LPNs due in 2019 issued by Finance & Credit Ukraine BV through a successful exchange offer and consent solicitation process.
The transaction featured lawyers from DLA Piper’s UK, Austrian, Ukrainian and Netherlands offices. The team was led by partners George Barboutis, Attila Csongrady and Oleksandr Kurdydyk (London, Vienna and Kyiv, respectively) and senior associate Alexander Kolmakov (London), and included a number of other lawyers such as Gerard Kneppers (partner, Amsterdam), Illya Muchnyk (legal director, Kyiv), Dmytro Pshenychnyuk (associate, Kyiv) and Marina Boterashvili (trainee, London).
Oleksandr Kurdydyk commented: “The transaction with Bank Finance and Credit demonstrates what makes DLA Piper stand out from the crowd – our international capacity to provide local clients with truly world class quality legal services across jurisdictions.”
George Barboutis added: “We are thrilled to have assisted Bank Finance and Credit to successfully conclude such a complex transaction, which presented a number of challenges, both in terms of complex technical issues that we had address and difficult market conditions.”
VTB Capital was the Dealer Manager for the transaction and was represented by Freshfields and Avellum.
