UKRAINE: SALANS ADVISES NADRA BANK REGARDING RESTRUCTURING OF ITS LOAN PORTFOLIO
Salans, Kyiv, Ukraine, Friday, September 25, 2009
PRESS RELEASE
Salans advises Nadra Bank regarding restructuring of its loan portfolio
25 September 2009, Kyiv: Salans is acting as legal advisor to the nationwide commercial bank Nadra regarding the reorganization and restructuring of the bank’s external debts (trade related indebtedness and Eurobonds) with about 70 bank lenders and at least 30 Eurobond holders. This project is the largest debt restructuring in the banking sector of Ukraine to date.
Salans’ legal advice on this project involves complete project guidance, covering project structuring and drafting of the related documentation.
Nadra Bank was established in 1993 and is one of the largest banks in Ukraine, with about 560 branches across the country and total assets of UAH 26.4 billion. Since February 2009, the bank has been in temporary administration
The Kyiv office of the international law firm Salans has 35 lawyers, assisting domestic and cross-border clients with their corporate, M&A, banking and finance, IP, tax and competition needs across a wide range of sectors. Salans has been active in Ukraine since 1988, and officially opened an office in Kyiv in 1992. Salans is ranked as a top tier law firm in Ukraine and globally by the leading international legal directory Chambers Global.
A team of Salans’ banking and finance lawyers in Kyiv and London are acting as legal advisor to Nadra Bank regarding this project: Natalia Selyakova (Partner, Head of Salans’ Banking and Finance Practice in Ukraine), Philip Prowse (Partner, London), Nikolay Zhovner (Senior Associate, Kyiv) and others
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LINK: http://www.usubc.org/reports/ SalansNadraBankPressReleaseENG.PDF