Asters has acted as a Ukrainian law counsel to European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC) and Black Sea Trade and Development Bank (BSTDB) on the secured lending to Concern Galnaftogaz, a major Ukrainian petroleum distributor.

The aggregate financing package arranged by EBRD and IFC (with sub-participations by commercial banks), and BSTDB amounts to USD 190 million.

The financing will be used for modernization and expansion of Galnaftogaz' petrol filling stations network in the central and northern parts of Ukraine by up to 75 new petrol filling stations and associated increase in working capital.

The team advising on the project consisted of Asters partner Iryna Pokanay, associates Gabriel Aslanian and Oksana Muntyan working in co-operation with Allen&Overy acting as the English law counsel to the lenders.

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Asters is a full-service independent national law firm. With more than 15 years of experience the firm has one of the longest track records on the country's legal market. Asters is among the most recommended law firms for Ukraine according to reputable international legal directories The Legal 500, PLC Which Lawyer?, Chambers Global, IFLR 1000, and Ukraine's legal market research publications. A list of the firm's clients includes major international corporations, such as Boeing, Coca-Cola, Marathon Oil, Miele, News Corp., New Line Cinema, Nissan Motor, Nokia Corporation, Philip Morris, Renault, Telenor ASA, Toshiba Corporation, and the world's leading financial institutions ABN AMRO, Barclays Capital, Citibank, Credit Suisse, Deutsche Bank, EBRD, IFC, ING Bank, JP Morgan Chase, Standard Bank, Swedbank and the World Bank.