November 2012, Kyiv:
Salans advised the mandated lead arrangers on a USD 255 million syndicated commodity facility to PJSC Creative of Ukraine. The facility was led and arranged by UniCredit as coordinating mandated lead arranger and bookrunner, and VTB Capital plc as senior lead arranger.
The facility comes on the back of the company’s successful debut USD 150 million transaction of last year.
The financing is structured as a dual tranche short-term committed, annually extendable financing. The proceeds will be used to finance the company’s sunflower seed purchases, their storage period and their processing period until the seeds have been processed into commodities to be sold on the domestic market or exported under export contracts.
Lenders under the facility are PJSC Ukrsotsbank (a member of UniCredit) as coordinating mandated lead arranger and bookrunner, VTB Capital plc as senior mandated lead arranger, Erste Group Bank AG as mandated lead arranger and Société Générale as arranger.
Salans’ team was led by Natalia Selyakova (Partner, Salans Kyiv) with key support from Denis Kulgavyi (Associate, Salans Kyiv), who assisted the clients in drafting documentation under the transaction and coordinating the work of legal counsel involved from different jurisdictions.
Natalia Selaykova, Partner at Salans’ Kyiv office commented: “We were very pleased to assist on this remarkable transaction. The transaction was challenging in terms of its legal structure and the number of parties and legal counsels from different jurisdictions involved. We highly appreciate the support and cooperation of all parties, which led to the successful closing of this transaction.”