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5 August 2008

Sayenko Kharenko advises international lenders on USD 23 million syndicated loan to OJSB “UkrGasBank”

Sayenko Kharenko acted as Ukrainian legal counsel to ING Bank N.V. and Standard Bank Plc on USD 23 million syndicated loan facility to OJSB "UkrGasBank" (LIBOR + 3.25%). The loan was provided for the period of 1 year. The attracted funds are reported to be used to finance trade-related operations of Ukrgasbank corporate customers.

Open Joint Stock Bank "Ukrgasbank" is a constantly growing bank, being one of the Top-30 Ukrainian banks in terms of the shareholders equity (EUR 79.5 mln) and the loan investment portfolio (UAH 10 366 mln). Sayenko Kharenko is well reputed for advising on syndicated financings to Ukrainian banks. In 2007-2008 the Firm has advised international lenders on syndications to 15 Ukrainian banks, including on the largest syndications provided to Raiffeisen Bank Aval, Ukrsibbank, and Ukrsotsbank.

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