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ASTERS ADVISES EBRD ON PROVIDING A LOAN TO KORMOTECH
Asters, Kyiv, Ukraine,
Nov 18, Wed, 2020
Asters acts as a legal counsel to the European Bank for Reconstruction and Development (EBRD) in connection with its financing to Kormotech Group. Kormotech is one of the top three market players in the Ukrainian pet food market and the first and largest Ukrainian producer of high-quality pet food for cats and dogs. The company exports its production to over 30 countries.
The loan available in EUR (up to 3.3 million) and UAH (up to 100 million) will provide working capital financing to Kormotech LLC in response to COVID-19 impact and will support Kormotech Group's strategy to maintain and expand its operations in Ukraine and other countries. This strategy was a part of the original project between the EBRD and Kormotech approved in 2019. Asters has provided legal support to the EBRD in both transactions.
Asters’ banking and finance team advising on the project consisted of partner Iryna Pokanay, counsel Gabriel Aslanian and associates Inna Bondarenko and Viktoria Zagreba.
The European Bank for Reconstruction and Development (EBRD) is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of more than €15 billion through 466 projects in Ukraine.
Asters is the largest law firm in Ukraine with offices in Kyiv, Washington D.C., Brussels and London. Chambers Europe 2020 recognizes 21 lawyers of Asters – the largest number of the renowned practitioners in a single Ukrainian law firm.