Welcome to the U.S.-Ukraine Business Council

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
* * *
Salans is an international commercial law firm built on a pioneering spirit with 21 offices worldwide. Salans LLP has offices, or is associated with Salans offices in:
ALMATY, BAKU, BARCELONA, BEIJING, BERLIN, BRATISLAVA, BUCHAREST, BUDAPEST, FRANKFURT, HONG KONG, ISTANBUL, KYIV, LONDON, MADRID, MOSCOW, NEW YORK, PARIS, PRAGUE, SHANGHAI, ST. PETERSBURG, WARSAW
We also have cooperation agreements in the Middle East and India. Our combination of international capability and domestic expertise enables us to provide comprehensive services matching the needs of global and local clients alike. Salans LLP is a Limited Liability Partnership registered in England and Wales with Registration Number OC 316822. Regulated by the Solicitors’ Regulation Authority of England and Wales. A list of the members of Salans LLP and of the non-members who are designated as partners of Salans LLP and/or its affiliated entities is available at its Registered Office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. See www.salans.com for further information.

LINK: http://www.usubc.org/reports/ SalansNadraBankPressReleaseENG.PDF