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27 January 2011

Sayenko Kharenko advised on USD 80 million credit facility to Kernel Holding S.A.

Sayenko Kharenko acted as Ukrainian legal counsel to VTB Capital plc, mandated lead arranger, on USD 80 million credit facility to Kernel Holding S.A.

The loan facility has been provided to Kernel Holding S.A. for general corporate purposes and secured against corporate guarantees of operational subsidiaries of the Group.

Kernel Holding S.A. managed to obtain this financing even despite worsening market conditions at the end of 2010 which made it suspend the issue of Eurobonds.

VTB Capital plc – the investment business of VTB Group. VTB Capital focuses on advising clients on ECM, DCM and M&A deals in Russia and abroad, as well as private investment, and asset management.

Sayenko Kharenko team for the current transaction included associates Igor Lozenko and Andriy Finogin, led by partner Nazar Chernyavsky.

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