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23 May 2012

Sayenko Kharenko advised on debt restructuring of “Potok8” (former Mirax Group)

Sayenko Kharenko acted as legal counsel to the lenders in the course of restructuring of financial obligations of “Potok8” (former Mirax Group), one of the leading Russian construction and development companies, under the outstanding USD 180 million credit linked notes. Under the terms of the restructuring, the noteholders were offered to exchange their notes for the respective part of the new RUR 14.5 billion loan participation notes due 2019 issued for the purpose of substituting all outstanding obligations of the company.

Sayenko Kharenko team involved in the current transaction included partner Nazar Chernyavsky and associate Iryna Bakina.

During the past 4 years the firm handled major debt restructuring projects for the total amount of over USD 7 billion. The firm’s debt restructuring and insolvency team is ranked Top Tier by Chambers Global 2012.

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