13 July 2021, 8:32

Asters advises BSTDB on up to USD 20 million loan to Araks shopping malls owners


Asters acts as a legal counsel to the Black Sea Trade and Development Bank (BSTDB) in connection with its up to USD 20 mln financing to the group of companies, owning two shopping malls under Araks brand in Kyiv.

The loan will support the modernization and upgrade of the commercial property owned by the group and located in Kyiv and Khmelnytskyi substantially for the purpose of improving their energy efficiency and reducing energy consumption, as well as the refinancing of the group's existing credit portfolio.

Asters’ team advising on the project consisted of partner Iryna Pokanay, counsel Gabriel Aslanian, and associates Inna Bondarenko and Viktoria Zagreba.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution with headquarters in Thessaloniki, Greece, was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. BSTDB started operations in June 1999 and has authorized capital of €3.45 billion. The Bank supports economic development and regional cooperation in the Black Sea Region through trade and project finance lending, guarantees, and equity participation in private enterprises and public entities in the member countries. BSTDB is rated A-/A-2 by Standard & Poor’s, and A2/P1 by Moody's.


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