Banking, finance and capital markets in Ukraine

Aequo

Aequo

Practice head(s):

Yulia Kyrpa


Other key lawyers:

Denys Kulgavyi


Key clients

State Savings Bank of Ukraine (Oschadbank)


Ukrposhta, Ukrainian Postal Service


Piraeus Group


Goldman Sachs


Dow Jones


Pacific Western Bank


Rapyd


Bitpanda Groupa


Microfinance Group


International Finance Corporation


European Bank for Reconstruction and Development


Raiffeisen Bank International AG (Austria)


Kreditanstalt fur Wiederaufbau


Kyiv City Council


Naftogaz of Ukraine


Fitch Ratings


European Fund for Southeast Europe


Ukrainian Global University


ProCredit Bank


Deposit Guarantee Fund of Ukraine


DebtX


DAI


Posco International


Dragon Capital


PrivatBank


Alma Stone


Fursy Energy Group


Epicentr K


Bunge S.A.


NCH Capital


EMSO Asset Management Ltd.


Debitum


SupplierPlus Group OÜ


Industrialbank


Work highlights


  • Advised Naftogaz of Ukraine on a consent solicitation for its $1bn portfolio of Eurobonds.
  • Assisted Deposit Guarantee Fund of Ukraine with the restructuring of a $5bn debt towards the State of Ukraine.
  • Advised Oschadbank on a consent solicitation.

Ante Law Firm

Ante Law Firm

Practice head(s):

Andriy Guck


Testimonials

‘The team is quick to respond with a high level of quality.’

‘A team of professionals.’

‘Ante team is the best choice for aviation finance issues in Ukraine with an excellent reputation and deep knowledge of the industry and international law.’

Key clients

Deutsche Lufthansa


Air France


KLM


Austrian Airlines


Swiss International Airlines


Brussel Airlines


Ekta Insurance Company


Vallair


Novans Jets


RDS cargo


AS “PrivatBank”


Bees Airline


Work highlights


  • Advised Bees Airline on issues related to the lease of four aircraft.
  • Assisting AS PrivatBank, lessor of the aircraft stuck at the Ukrainian airport, with maintenance procedures.
  • Advised international airlines (Lufthansa Group, Air France – KLM, British Airways, Aviareps) on the transfer of all income from sales of international air transportation from representative offices to parent companies.

Arzinger

Arzinger

Practice head(s):

Oleksander Plotnikov


Testimonials

‘Arzinger is a full-service law firm, and their banking and finance practice benefits from close cooperation with other practices within the firm.’

‘Arzinger law office is very competent and practical in their legal services. They maintain a great core team of lawyers.’

‘I mostly work with Oleksander Plotnikov. Oleksander is a very experienced, hard-working and dedicated lawyer. He is able to efficiently work on a wide range of matters, from trade finance transactions to insolvencies and liquidations. He is one of the best lawyers in the market in Ukraine.’

Key clients

Jyske Bank S/A


Raiffeisen Bank International AG


TIU Canada


Innovatus Capital Partners


The European Fund for Southeast Europe S.A.


SID – SLOVENSKA IZVOZNA IN RAZVOJNA BANKA, d.d.


GORENJSKA BANKA D.D.


Sierentz Global Merchants Ukraine


Budhouse Group


EBRD


Nordic Environment Finance Corporation


Investment Fund for Developing Countries


Work highlights


  • Advised Jyske Bank and PKO Bank Polski on a €155m facility to Goodvalley group.
  • Advised RBI, as lender, on three consecutive loan facilities to finance the construction of a particle board production facility in Rivne city, for a total amount of over €200m.
  • Advised Innovatus, as lender, on the provision of a $20m pre-export facility to Black Sea Commodities.

Asters

Asters

Practice head(s):

Armen Khachaturyan; Iryna Pokanay; Roman Stepanenko


Other key lawyers:

Gabriel Aslanian; Kateryna Oliynyk


Key clients

Black Sea Trade and Development Bank


CISCO Capital


EBRD


GE Company


Hilong Holding Limited


IFC


Joint Stock Company “Ukrainian Railway”


Santander Bank Polska S.A.


Techiia Holding


WeBuild S.p.A.


Work highlights


  • Assisted EBRD and IFC with their loans to JSC Concern Galnaftogaz.
  • Assisted EBRD with an up to €15m secured loan to agricultural complex Zelena Dolyna.
  • Advised IFC on €13.7m its financing to the city of Kryvyi Rih.

Avellum

Avellum

Practice head(s):

Glib Bondar


Other key lawyers:

Oleg Krainskyi


Testimonials

‘Glib Bondar is better than the opposition.’

‘Avellum has a great, highly-skilled and experienced law team, ready to help you almost 24/7 with high-quality results. They try to be useful to their clients and very honest with you even in a difficult situation, which helps to find solutions easily. It is nice to work with a team which thinks several steps ahead and gives you valuable advice.’

‘Glib Bondar demonstrates a very helpful strategic view in difficult situations professionally.’

‘Oleg Krainskyi is professional, and all contracts/transactional documents are prepared on time and without any issues. Great job.’

‘The team is ultra-professional, knows inside out the legal regime around Ukraine’s sovereign debt/treasury and debt management and handles smoothly all the internal/administrative processes associated with the borrower side of these processes. They are a reliable and long-term partner to our firm in our long-standing work together.’

‘Glib Bondar contributes effectively when required and has gravitas. Oleg Krainskyi is increasingly prominent and has taken on a more leading role very effectively. They are both highly engaged, responsive and co-ordinate the wider associate team effectively.’

Key clients

Ministry of Finance of Ukraine


National Power Company “Ukrenergo”


The State Road Agency of Ukraine (“Ukravtodor”)


European Bank for Reconstruction and Development


JP Morgan


Metinvest B.V.


Work highlights


  • Advised the Ministry of Finance of Ukraine, the State Road Agency of Ukraine and the National Power Company on their consent solicitations.
  • Assisted Ukrenergo with its issue of $825m worth of 6.875% notes guaranteed by Ukraine.
  • Assisted the Ministry of Finance of Ukraine with several long-term concessional loans from Canada, totalling $‎1.95bn.

Baker McKenzie, Kyiv Office

Baker McKenzie, Kyiv Office

Practice head(s):

Serhiy Chorny


Other key lawyers:

Maksym Hlotov; Hanna Shtepa


Key clients

Raiffeisen Bank


Bayerische Landesbank


First Ukrainian International Bank


Citibank Ukraine


Citibank N.A., London Branch


Credit Agricole Indosuez


ING Bank Ukraine


Cargill Financial Services International


PJSC Obolon


DTEK Group


International Finance Corporation


European Bank for Reconstruction and Development


Black Sea Trade and Development Bank


Aragvi Finance International DAC (part of Transoil group)


Ukrzaliznytsia (Ukrainian Railways)


Work highlights


  • Assisting Ukrzaliznytsia with debt restructuring, corporate finance and financial lease matters.
  • Assisted Aragvi Finance International with an issue of up to $50m notes due 2026.
  • Advised International Finance Corporation on the European Union’s program to support Ukraine’s state-owned energy efficiency fund.

CMS

CMS

Practice head(s):

Ihor Olekhov; Anna Pogrebna


Other key lawyers:

Kateryna Chechulina


Key clients

ING Bank


Project NEXT-UA


Air Products


UniCredit


European Investment Bank


Export-Import Bank of Korea (KEXIM)


European Bank of Reconstruction and Development


Acciona Energia


DAI Global


Donbasenergo


PrimoCollect Group


CWP Europe


Work highlights


  • Assisting NEXT-UA with a joint project launched by the Ukrainian government, USAID, EBRD and the American Chamber of Commerce in Ukraine.
  • Advised the European Bank for Reconstruction and Development on its $75m investment in the $825m sustainability-linked bond issued by Ukrenergo.
  • Advising AirProducts on its contemplated establishment of a joint venture with ArcelorMittal in Ukraine.

Dentons

Dentons

Practice head(s):

Natalia Selyakova


Other key lawyers:

Artem Lukyanov; Nadiya Shylienkova


Key clients

European Federation of Energy Traders


OeEB


National Bank of Ukraine


Piraeus Bank


Sigra Group AS


DAI Global


The Black Sea Trade and Development Bank


IFU


IFC


EBRD


Work highlights


  • Assisted the Black Sea Trade and Development Bank with an SME term loan to West Finance and Credit Bank.
  • Advised Piraeus Bank on the sale of a $62.5m loan, originally granted to Dutch developer GOOIOORD.
  • Advised DAI Global on the second phase of a delivery-versus-payment study.

EQUITY Law Firm

EQUITY Law Firm

Practice head(s):

Andriy Nikitin; Serhiy Chuyev; Oleg Malinevskiy


Key clients

Azovmash, group of companies


PJSC UkrIncom/UkrInBank


Corporate non-governmental pension fund of National Bank of Ukraine


BELMONT INDUSTRIES INC.


United cardboard company of Ukraine


Laran – 07 (Ukraine. Global Fish)


KAIZEN Holding OU


Expert Invest LLC


Nadra Bank PJSC


Work highlights


  • Advised UkrIncom/UkrInBank on a $230m debt restructuring and debt collection.
  • Represented Belmont Industries in the bankruptcy case of Okean.
  • Advised the Azovmash Group on a $2bn debt restructuring.

Eterna Law

Eterna Law

Practice head(s):

Nikolas Likhachov


Testimonials

‘Exceptional level of collaboration and attention to the details.’

‘The team is responsive, pragmatic and solution-driven.’

Key clients

Cité Gestion SA


Sartus Capital (Genève) SA


Ibox bank


Bank SYZ


Work highlights


  • Advised Cité Gestion on due diligence and compliance research relating to high-net-worth-individuals, beneficiaries of international and domestic businesses originating from Ukraine.
  • Advised Sartus Capital (Genève) on due diligence and compliance research relating to a high-net-worth professional football player.

EVERLEGAL

EVERLEGAL

Practice head(s):

Vsevolod Volkov; Andriy Olenyuk


Key clients

UDP Renewables


UkrSibbank


OTP Bank


Work highlights


  • Advised OTP Bank on a potential regulatory investigation.

GOLAW

GOLAW

Practice head(s):

Valentyn Gvozdiy; Sergiy Oberkovych


Testimonials

‘Partner-led legal advice, even for small transactions.’

Key clients

Export Guarantee and Insurance Corporation


Erste Abwicklungsanstalt


UniCredit Bank Czech Republic and Slovakia


Work highlights


  • Advised Export Guarantee and Insurance Corporation, Erste Abwicklungsanstalt and Euler Hermes on the second stage of Eurocar and RIC’s debt restructuring.
  • Represented UniCredit Bank and EGAP in the bankruptcy proceedings of borrower Creative and guarantor Creative Group.
  • Assisted EGAP with the sale of a grain storage complex which was foreclosed by EGAP as a result of debt restructuring.

Hillmont Partners LLC

Hillmont Partners LLC

Practice head(s):

Valentyn Zasukha; James Hart


Other key lawyers:

Andrii Chornous


Testimonials

‘Well-organised team with high professional capabilities.’

‘The ability to interact with others – communication skills, sociability, creative thinking.’

‘Hillmont is very responsive as a team, always on top of the issues and managing the process well. Their quality of service is reliable and of the highest practical value for clients. I would particularly commend their client-friendly and accessible approach.’

‘James Hart is well placed to advise on complex finance-related and restructuring matters. He has strong expertise in cross-border work across several jurisdictions. He is very detail-oriented. He is a go-to partner for many Ukraine-related matters and beyond. We like the style and speed with which he works on client matters – he leaves no stone unturned. He is strongly supported by his counsel Andrii Chornous. Andrii is client-focused and provides recommendations and solutions, which are very much appreciated.’

‘The team has a very flexible approach. Every lawyer who worked on our requests was deeply involved in the problem and showed a high class of professional knowledge.’

‘James Hart is an experienced and skilful lawyer with a good personal approach, deep knowledge of legislation and polite in his speech.’

‘The team has huge amounts of experience dealing with banks and financial institutions.’

‘James Hart has massive experience and profile in the sector. He commands respect and can draw upon a rare level of commercial expertise not often seen in the legal world.’

Key clients

F.G. Financing (Foxtrot Group)


Argentem Creek Partners LP


Helios Finance


Work highlights


  • Represented F.G. Financing/Nonolet in proceedings relating to the recovery of over $100m in debt obligations across multiple jurisdictions.

Ilyashev & Partners

Ilyashev & Partners

Practice head(s):

Mikhail Ilyashev


Other key lawyers:

Roman Marchenko


Testimonials

‘We have always found the firm to be thoroughly professional. Its strengths are derived from decades of legal experience and the traditional values instilled by its founders – uncompromising professionalism and ethics.’

‘The department distinguishes itself thanks to its partner-led service and long-standing relationship with some of the most prominent law firms around the globe. It excels at getting deals done efficiently, even in difficult circumstances.’

‘The firm’s attorneys are carefully selected, have broad experience and are well known for their ability to serve in vastly complex transactions. Co-operation with the firm ensures gaining a reliable partner in legal matters and the stability of the timely delivery of quality services at reasonable budgets.’

Key clients

Altares Capital


Arctic Securities


Munich Reinsurance Company


Development Bank of Kazakhstan


BTA Bank (both Kazakhstan and Ukraine)


PZU Ukraine


Deutsche Gesellschaft für InternationaleZusammenarbeit GmbH


CLEARING HOUSE BANK


Work highlights


  • Advised Deutsche Bank on a debt repayment of more than $200m.
  • Advised the Committee of Creditors of Oschadbank on the restructuring of the bank’s $500m loan.
  • Advised on issues relating to PrivatBank’s Eurobonds issue of more than $200m due to its nationalisation.

Integrites

Integrites

Practice head(s):

Igor Krasovskiy


Other key lawyers:

Oleh Zahnitko; Olena Savchuk


Key clients

JSC Naftogaz of Ukraine


Emergy AS (formerly – NBT AS)


European Commission


Scatec


Simmons & Simmons Solutions Limited


Wärtsilä


Ministry of Energy of Ukraine


KOLO charity fund


Euronet Ukraine


Work highlights


  • Advised Naftogaz on €1.5bn worth of financing obtained from Oschadbank.
  • Advised Naftogaz on an up to €300m loan arranged by the EBRD for the client to finance gas purchases and compensate for the loss of natural gas production.
  • Advised EMERGY on all aspects of the financing for the first 42MW, second 300MW, and third 450MW stages of the 792,5MW Zophia wind farm in southern Ukraine.

Jeantet

Jeantet

Practice head(s):

Karl Hepp de Sevelinges; Bertrand Barrier


Key clients

EIB


EIF


Ateliers de France


Credit Agricole


Stereau


Ocea


Idemia


Imerys


Tryba Energy/ Ekotechnik Shyroke


AmSpec


Motivagri


Verallia


Kinstellar

Kinstellar

Practice head(s):

Oleksandr Kurdydyk


Other key lawyers:

Dmytro Pshenychniuk; Anna Kalinichenko


Testimonials

‘Kinstellar has practitioners with great expertise in derivatives trading with Ukrainian counterparties.’

‘Dmytro Pshenychniuk has competence in this legal field, is very friendly, and his response times are very short. That made working with him a great experience.’

Key clients

NEQSOL


U.S. International Development Finance Corporation


Raiffeisen Bank International AG


EBRD


Cyprus Popular Bank


PJSC Citibank


Payoneer


Kyivstar


Deutsche Investitions- und Entwicklungsgesellschaft mbH


Vesco Private Joint Stock Company


World Bank


Mariott


Piraeus Bank


Work highlights


  • Advised Vodafone Ukraine on the buy-back and cancellation of $500m 6.20% loan participation notes listed on Euronext Dublin.
  • Advised GIZ, BMU and EEF on a grant reimbursement agreement implementing multistage grant reimbursement mechanics.
  • Assisted EBRD with a senior secured revolving credit facility of up to €10m for ERU Trading.

KPD Consulting Law Firm

KPD Consulting Law Firm

Practice head(s):

Vladyslav Kysil


Testimonials

‘The team provides legal support to its clients during this difficult period and is efficient advising on both straightforward business issues and current changes.’

‘I value their ability to react to rapid changes in legislation driven by the specifics of the current time.’

Key clients

Diebold Nixdorf


Master Avia


EMRF Fund


Werner Wirth GMBH


Kiev Real Estate Recovery Fund


Sberbank of Russia


ING Bank Ukraine


Ukrsibbank (BNP Paribas)


UniCredit Bank AG


DCH


Metropolia


Porsche Leasing


Piraeus Bank ICB


Work highlights


  • Advised Diebold Nixdorf on regulatory matters pertaining to payment services and regulations of payment infrastructure services operators.
  • Advised Sberbank on the prolongation of its $40m loan to Mater Avia and the rollover of the facility for the reconstruction of Kyiv Airport runway strip.
  • Advised UniCredit Bank on the review and rollover of a $60m loan facility to a commodities trader.

KPMG Law in Ukraine

KPMG Law in Ukraine

Practice head(s):

Sergey Popov; Yuriy Katser


Key clients

Promtekhservis LLC


Suol Innovations Ltd


Good Governance Fund


Xian Electric Engineering Co., Ltd


JCB International Co., Ltd.


APS Romania S.R.L.


Work highlights


  • Assisted Good Governance Fund with the development and implementation of a green bond financing regulatory framework in Ukraine.
  • Assisted JCB International with the registration of an international payment system in Ukraine.
  • Advised APS Romania on a legal structure for investing in the Ukrainian NPL market.

LCF Law Group

LCF Law Group

Practice head(s):

Artem Stoyanov; Olena Volianska; Iryna Kobets


Other key lawyers:

Denys Sperov


Testimonials

‘LCF always dedicate a lot of effort and time to investigating related political and market conditions, understanding the nature of the client’s business, investigating the economic environment, and finding the best strategy based on this knowledge.’

‘The team demonstrates their excellency. They are very smart, rapid, efficient and in-depth lawyers. They are always responsive and business-oriented. They always pay precise attention to details, know all the nuances of the legislation perfectly, and are very strong in court too.’

‘The whole LCF team consists of strong and multi-skilled professionals. I mainly co-operate with Artem Stoyanov and Olena Volianska – they have a long and successful track record. They have very deep expertise in their respective fields of practice, excellent managerial and litigation skills and are very strong strategists. They’re committed to the client and fully understand the specifics of their business.’

Key clients

VR Global Partners


Bunge Ukraine


First Ukrainian International Bank


Ministry of Justice of Ukraine


AVK Group


Allianz Ukraine


EasyPay


LLC “Deloitte & Touche Ukrainian Services Company”

LLC “Deloitte & Touche Ukrainian Services Company”

Practice head(s):

Dmytro Pavlenko


Key clients

Porsche Leasing LLC/Porsche Mobility LLC


PJSC “CENTRAVIS PRODUCTION UKRAINE”


OPEN MIND FUND


Work highlights


  • Advised Porsche Leasing/Porsche Mobility on amending internal AML documentation and bringing it in compliance with new legislation.
  • Advising Centravis Production Ukraine on currency supervision matters with Ukrainian banks.
  • Assisted charitable foundation Open Mind Fund with the resumption of its fund activity, which had been dormant from 2013.

Pavlenko Legal Group

Pavlenko Legal Group

Practice head(s):

Grygoriy Pavlenko


Key clients

К Invest LLC


LLC« Asset Management Company and Pension Funds Administration «Niko Finance»


LLC “Financial company “Investohills Vesta”


OTP Bank JSC


LLC “Financial Company” Central Capital”


Gastranzit JSC


FC Cantiero LLC


AXA Lantmannen


LLC “Financial Company “Sokur”


Work highlights


  • Representing Investohills Vesta in more than 10 related bankruptcy proceedings with a value of $21m.

PwC Legal

PwC Legal

Practice head(s):

Vadym Romaniuk


Other key lawyers:

Olga Butnik


Testimonials

‘We note the team’s interest in innovation in providing services.’

‘The distinguishing feature is a deep understanding of the financial market regulator’s requirements and the provision of audit services which fully cover these requirements.’

‘Speed, ease of communication, professionalism, understanding the essence of the problem and its analysis from all possible angles, and searching for the best solution are the key features.’

Redcliffe Partners

Redcliffe Partners

Practice head(s):

Olexiy Soshenko


Other key lawyers:

Andriy Nikiforov; Evgeniy Vazhynskiy


Key clients

European Bank for Reconstruction and Development


JP Morgan


Citibank


Deutsche Bank


Credit Suisse


UBS


Credit Agricole CIB


FMO


EIB


Black Sea Trade and Development Bank


Nordic Investment Bank


DZ Bank


Work highlights


  • Advised EBRD on several deals, including the €75m unfunded guarantee to Raiffeisen Bank Ukraine and establishment of financial risk-sharing frameworks.
  • Represented Nordic Investment Bank in a $59m suretyship claim against Dniprovsky Iron and Steel Works before the Supreme Court of Ukraine.
  • Advised a syndicate of banks on Ukrainian law matters related to the restructuring of up to €400m credit facilities provided to Origin Enterprises.

Sayenko Kharenko

Sayenko Kharenko

Practice head(s):

Nazar Chernyavsky; Michael Kharenko; Anton Korobeynikov; Igor Lozenko


Testimonials

‘The Sayenko Kharenko team is unique, being a Ukraine-based team with tremendous experience in managing international transactions.’

‘Our primary contact at Sayenko Kharenko is Anton Korobeynikov. Very smart and professional lawyer.’

‘The team has a very professional and client-oriented approach.’

‘The team has a practical and innovative approach with high professionalism.’

‘Nazar Chernyavsky has extensive experience in handling the most complex financing projects. Definitely great client service and professionalism.’

‘In our work with Sayenko Kharenko, their team showed extreme legal creativity in complicated situations. Sayenko Kharenko has great knowledge and experience across all sectors of finance. This combination of knowledge, sophistication and creativity is difficult to find in the market.’

‘Primarily we work with Anton Korobeynikov. He is usually extremely determined to make our business goals work. Often he challenges straightforward restrictive approaches proposed by other lawyers in Ukraine.’

‘Usually, we work with Anton Korobeynikov – he knows all the practicalities and nuances we are usually facing. We are very comfortable with him managing our deals as an external Ukrainian counsel.’

Key clients

BNP Paribas


Citigroup


Deutsche Bank


Dragon Capital


European Bank for Reconstruction and Development


European Fund for Southeast Europe


French Development Agency


Goldman Sachs International


ING


International Finance Corporation


J.P. Morgan


National Securities and Stock Market Commission


Nordic Environment Finance Corporation


Renaissance Capital


Ukreximbank


UK Export Finance


USAID-financed project “Financial Sector Transformation”


Work highlights


  • Advised BNP Paribas, Deutsche Bank, Goldman Sachs International and Ukreximbank on the debut $825m ESG bond issue by Ukrenergo.
  • Advised BNP Paribas and Goldman Sachs International on a $500m Eurobond tap issue by Ukraine.
  • Advised J.P. Morgan and Dragon Capital on a $300m Eurobond issue by Ukrainian Railways.

SDM Partners LLC

SDM Partners LLC

Practice head(s):

Serhiy Dzis; Dmytro Syrota


Vasil Kisil & Partners

Vasil Kisil & Partners

Practice head(s):

Alexander Borodkin Kyiv; Anna Sisetska


Key clients

Arcona Property Fund N.V.


NIRAS A/S


Tchibo GmbH


Hellenic Bank


European Bank for Reconstruction and Development


USAID Project Credit for Agricultural Producers


Fin.Do


Dubai Aerospace Enterprise


Energy Standard Group


Work highlights


  • Advised the European Bank for Reconstruction and Development on the validity and enforceability of a security package relating to a project finance loan to an energy generation company.
  • Advised the World Council of Credit Unions on implementing a project concerning available options to structure US government financial support to Ukrainian agricultural producers.
  • Advised Arcona Property Fund, the Euronext Amsterdam and Prague Stock Exchange on fund increase transactions.

Wolf Theiss

Wolf Theiss

Practice head(s):

Oksana Volynets


Key clients

Optimum Solar Kft


Ukrmilk


AmTrust International


VakifBank International AG


Vienna Insurance Group


Urbanleap Inc.


Uniqa Real Estate


Metro International AG


Work highlights


  • Advising Ukrmilkinvest on various Ukrainian law issues in relation to cross-border and local financings.
  • Advised a US-based insurer and reinsurer on an insurance coverage program related to an extended warranty product in respect of electronic devices.
  • Advised Vienna Insurance Group on the potential acquisition of a major Ukrainian life-insurer.