Sayenko Kharenko acted as legal counsel to the European Bank for Reconstruction and Development (EBRD) on arranging USD 40 million syndicated working capital loan to the Industrial Group ViOil (ViOil), Ukraine’s major sunflower oil producer and exporter.
The facility consists of an A-loan of up to USD 20 million for the EBRD’s own account and a B-loan of up to USD 20 million, which was syndicated to ING Bank N.V. The proceeds of these loans will finance ViOil’s working capital needs associated with its oilseeds crushing operations. The deal will also help ViOil provide pre-financing to local farmers supplying oilseeds to the Group, and support the launch of joint production of high-oleic crops and oil with local farmers.
EBRD is the largest international financial investor in Ukraine. As of 1 July 2015, the Bank had a total cumulative commitment of EUR 11 billion in 345 projects in the country. Ukrainian agribusiness remains a key sector for the EBRD, which committed funding worth over EUR 250 million in 2014 alone.
Sayenko Kharenko’s team for the current transaction included senior associates Igor Lozenko and Iryna Bakina, associates Taras Shyb, Marta Lozenko and Dmytro Vasylyna and was led by partner Nazar Chernyavsky.