Yesterday theEuropean Commission disbursed EUR 100 million for Ukraine, the first tranche ina 1.61-billion-euro package that the EU pledged last month to help thecountry’s struggling economy. 

VasilKisil & Partners is pleased to announce that we acted as a sole legaladvisor to the European Commission, a supranational institution representingthe interests of the European Union, on granting of EUR 610 million macro-financialassistance to Ukraine. 

In April 2013, the Memorandum of Understanding and theLoan Agreement were entered into by Ukraine, as a borrower, the National Bankof Ukraine, as an agent to the borrower, and the European Union, as a lenderregarding the loan in the aggregate amount of EUR 610 million. Both abovedocuments were ratified by the Ukrainian Parliament on March 4^th2014. The first installment of the macro-financial assistance was transferredto the state of Ukraine on the 20^th of May. The outstanding amountof the loan is expected to be granted within the course of 2014.

Vasil Kisil & Partners advised the EuropeanCommission on the Ukrainian law and international law matters of thetransaction. In particular, the lawyers were actively involved in drafting ofthe transaction documents, controlled fulfillment of conditions precedent to completionof the transaction and issued a legal opinion in favour of the lender. 

The transaction team was led by thefirm’s partners Yulia Kyrpa and Denis Lysenko and included associatedof Banking and Finance Practice Group DenysKulgavyi and Olena Nikolenko. 

“We are proud to be part of theinitiative of providing Macro-Financial Assistance aimed to help Ukrainesuccessfully meet its major economic challenges and stabilize its economy. We appreciate a significant support already providedto Ukraine and full commitment of the European Union to help our country in thefuture”, commented Yulia Kyrpa, Partner, Head of Banking & Finance at VasilKisil & Partners. 

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For more details please contact YuliyaChervonookaya,

Head of PR/BD Department

Tel.: +380 44 581 7777

E-mail: pr@vkp.kiev.ua

Aboutthe Firm

Established in 1992, Vasil Kisil & Partners is aUkrainian law firm that delivers integrated legaladvice in banking & finance, mergers & acquisitions, capital markets,antitrust, competition and trade, dispute resolution, tax law,energy and natural resources law, intellectual property law, labor andemployment law, real estate and construction law,as well as PPP, concessions and infrastructure law. Vasil Kisil & Partners isa member of such international professional associations as TerraLex, IBA, andIus Laboris. 

The firm`s clients include such world-known companies asAcron, Air Liquide, Alfa Bank (Ukraine), Delta Bank, Alpcot Agro, Africa-IsraelGroup, Ardagh, Astellas Pharma, BASF, Bayer Consumer, BNP Paribas, BritishAmerican Tobacco, Central European Media Enterprises, Coca Cola, CreditAgricole Group, Danone, Dell Inc., DuPont, EBRD, Ericsson, Energy StandardGroup, Eurosport, Ferrexpo AG, Google, Hewlett-Packard, Inditex Group,Kraft, LG Electronics, Leroy Merlin Ukraine, MTS, Moody’s, Mott MacDonaldLimited, NCH Capital, Opel, Philips, Pireaus Bank, Red Bull, Samsung, Sberbankof Russia, SEB AB, Swedbank Group Seven Hills, Shell, Shelton Petroleum, SonyCorp, St. Sophia Homes, Swedbank AB, Tchibo, Thomson Reuters, Ukrainian MediaHolding, Ukrsibbank, Ukrsotsbank, UniCredit Group, Uniqa, Utair, VancoInternational / Vanco Energy, Volkswagen, VimpelCom, YouTube, etc.0