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Asters Advises EBRD on USD 40 Million Financing to New Europe Property Fund L.P. Managed by NCH Capital Inc.
Asters, Kyiv, Ukraine, Wednesday, April 23, 2014
Asters has acted as a Ukrainian law counsel to European Bank forReconstruction and Development (EBRD) on secured lending in total amount of USD40 million to New Europe Property Fund L.P. managed by NCH Capital Inc.
The financing will be used for working capital needs of the Fund'sagricultural operations in Ukraine. The beneficiaries of the loan are expectedto be 30 Ukrainian agricultural enterprises. The project is aimed at improvingthe land management and farming techniques to increase the yields.
The team advising on the project consisted of Asters partner Iryna Pokanay, counselGabriel Aslanian,and associates YuliaSpolitak and InnaBondarenko.
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NCH New Europe Property Fund L.P. was created in 2005 and fully invested itscapital into real estate and agricultural business in the countries of EasternEurope and former Soviet Union.
EBRD was established in 1991 and became the largest financial investor inCentral Europe, Central Asia and the Southern and Eastern Mediterranean. It isowned by 64 countries, the European Union and the European Investment Bank.