Sayenko Kharenko advises on USD 21.9 mln loan to Ferrexpo

Sayenko Kharenko acted as a Ukrainian legal counsel to Ferrexpo Poltava Mining, Ferrexpo’s mining and production operation in the Poltava region, on USD 21.9 million export financing for the purchase of Сaterpillar bulldozers and trucks.

The loan was provided by Private Export Funding Corporation  (“PEFCO”), a US private sector entity, for the period of 7 years with the maturity date on 15 March 2019, and was guaranteed by the Export-Import Bank of the United States (“Ex-Im Bank”). The loan was additionally secured by the pledge over the financed equipment and the guarantee from the parent company Ferrexpo AG.

Ferrexpo is a Swiss headquartered resource company with assets in Ukraine. It is principally involved in the production and export of iron ore pellets which are used in the manufacture of steel. Ferrexpo’s asset base is one of the largest iron ore resources in the world.

Sayenko Kharenko team involved in the transaction included partner Nazar Chernyavsky and associates Yuriy Draganchuk and Orest Matviychuk.