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8 February 2008

Sayenko Kharenko advises the arranger of a CHF 50 million financing to Odessa City Council

Sayenko Kharenko has acted as a Ukrainian legal counsel to BNP Paribas Finance PLC, a member of one of the major European banking groups, in connection with the provision of a CHF 50 million syndicated loan facility to Odessa City Council. The facility became the first borrowing of a Ukrainian municipality, other than the city of Kyiv, in the international loan market to date. The funds will be spent on improving further development of the city infrastructure that envisages large-scale program of repair and modernization.

Sayenko Kharenko team advising to BNP Paribas Finance on this deal included counsel Nazar Chernyavsky and associate Olexander Olshansky led by partner Michael Kharenko.

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