CMS has advised its longstanding client ING Bank N.V. (ING) on yet another financing to the Ukrainian agribusiness sector. ING, as a mandated lead arranger and bookrunner, arranged $80 million pre-export finance facility to Vioil – one of the largest producers of vegetable oils in Ukraine.The syndicated facility was channelled to Ukrainian exporters to further fund the working capital needs of Vioil group, including to refinance the existing facilities. Given various regulatory restrictions in Ukraine, CMS advice included also structuring of the refinancing, which terms were successfully negotiated with the existing lenders by ING with the vast support of CMS team.
This pre-export facility is for Vioil to meet working capital requirements in 2017-2018 marketing year, becoming the next step in Vioil’s entering the international loan capital markets.
The transaction was led by Mark Segall and Elitsa Ivanova, English law qualified Partners, and Kateryna Chechulina, senior associate and Banking & International Finance practice coordinator, who were supported by their experienced teams.
Kateryna Chechulina commented: “We are proud to support ING in providing financings to the leading agribusiness companies in Ukraine and thus making a valuable contribution to the development of the Ukrainian agribusiness sector. Well-coordinated multijurisdictional advice is the key to the success of the transaction and its timely financial closure. That is what CMS, as a leading international law firm, constantly ensures for its clients.”
Commenting on the cooperation with ING, Elitsa Ivanova added: “We are very happy to have been able to support our key client ING in this transaction.”