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Asters Advises EBRD, IFC and BSTDB on USD 180 million Financing to Petroleum Giant Galnaftogaz
Asters, Kyiv, Ukraine
Asters has acted as a Ukrainian law counsel to European Bank forReconstruction and Development (EBRD), International Finance Corporation (IFC)and Black Sea Trade and Development Bank (BSTDB) on the secured lending toConcern Galnaftogaz, a major Ukrainian petroleum distributor.
The aggregate financing package arranged by EBRD and IFC (withsub-participations by commercial banks), and BSTDB amounts to USD 180 million.
The financing will be used for modernization and expansion of Galnaftogaz'petrol filling stations network in the southern and north-eastern parts ofUkraine by up to 60 new petrol filling stations and associated increase inworking capital. The financing will help develop and improve the infrastructurefor tank storage and liquefied petroleum gas modules, as well as expand thenetwork of quality convenience stores, coffee shops and restaurants.
The team advising on the project consisted of Asters partner Iryna Pokanay,associates GabrielAslanian, YuliaSpolitak and InnaBondarenko working in co-operation with Allen&Overy actingas the English law counsel to the lenders.
