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Vasil Kisil and Partners advises Russian integrated logistics, rail, and port operator Far-Eastern Shipping Company PLC (FESCO) on USD 800 million dual-tranche senior secured notes
Vasil Kisil & Partners,
Kyiv, Ukraine, Monday, 13 May, 2013
Vasil Kisil and Partners acted as Ukrainian legal counsel to FESCO on USD 800 million seniorsecured notes issued by Far East Capital Limited S.A., indirect wholly ownedLuxembourg subsidiary of FESCO. The notes were placed in two tranches: USD 500million notes due 2018 were priced at a yield of 8.00%, and USD 300 millionnotes due 2020 were priced at a yield of 8.75%. The notes are guaranteed on asenior secured basis by certain subsidiaries and parent companies of FESCO. Netproceeds will be used to repay outstanding debt of the Group and debt incurredin connection with the acquisition of FESCO in December 2012. The offering wasmade pursuant to Rule 144A and Regulation S.
The team of Vasil Kisil & Partnersincluded leading associate Kseniya Ostrovska and the firm’s partner YuliaKyrpa.
Cleary Gottlieb Steen & Hamilton acted as English, US and Russian legaladvisor to FESCO, and Allen & Overy acted as English, US and Russianlegal advisor to the Joint Bookrunners and the Trustee.
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