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09 October 2018, 14:52

AEQUO Advises EBRD on USD 20,000,000 Secured Loan to Astarta Group

AEQUO

AEQUO acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”) in connection with USD 20,000,000 secured loan granted to Ukrainian subsidiaries of Astarta Group, Ukraine’s leading agribusiness operator and sugar producer (“Astarta”).

The proceeds from the loan will be utilized for Astarta working capital needs. Astarta is going to employ modern IT solutions necessary for the precision farming it is promoting in Ukraine. In the context of the project, Astarta will also offer a high quality, comprehensive training programme to high school graduates and students willing to work in the agribusiness sector in Ukraine.

AEQUO lawyers assisted with the drafting and execution of the financing documentation, numerous security agreements and issued the legal opinion in favour of EBRD. Beyond the Ukrainian law, the project included English, Dutch and Cypriot law matters.

The financing is provided within the framework of long-standing cooperation between EBRD and Astarta.

AEQUO project team included senior associate Bohdan Dmukhovskyy and associate Glib Bukharin, who worked under supervision of Yulia Kyrpa, partner and head of banking & finance practice of the firm.

"We are delighted to assist EBRD with this interesting and large-scale transaction. We believe that the loan granted by EBRD will help Astarta to implement many positive developments to increase land productivity in an eco-friendly manner. This is the landmark project for the Ukrainian agribusiness and we are honoured to be a part of it", comments Yulia Kyrpa.

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