Asters acts as a legal counsel to the Black Sea Trade and Development Bank (BSTDB) in connection with its USD 20 million financing to Concern Galnaftogaz, a leading Ukrainian petroleum retailer company.
A seven-year loan will assist the company to expand and upgrade its network of gas filling stations and meet its working capital needs. The project will generate new jobs and increased tax revenues in the country and will have a solid regional cooperation impact from servicing regional transportation flows.
BSTDB and Galnaftogaz established their partnership in 2004. Since then, the BSTDB has provided USD 87 million to Galnaftogaz, contributing to a notable growth of its business.