Redcliffe Partners has acted as Ukrainian counsel to Sberbank of Russia and Deutsche Bank on the restructuring of a USD 600 million syndicated loan provided to Ukrlandfarming, one of the largest agricultural holding companies in Eurasia. The restructuring involves amendments to the Facility Agreement and related financial documents, and covers several jurisdictions, including the UK. Clifford Chance advised on matters of English law.
Redcliffe Partners describes the financing, which was provided to Ukrlandfarming in 2011, as one of the largest financings in Ukraine’s agri-sector, and describes the restructuring as "crucial to maintaining the business.” According to Redcliffe Partners, “the agreement with creditors was reached in very difficult market and economic conditions, which included the devaluation of the Ukrainian currency and losing the Syrian and Iraqi markets due to hostilities."
Redcliffe’s team included Managing Partner Olexiy Soshenko, Counsel Dmytro Orendarets, Associate Evgeniy Vazhynskiy, and Junior Associate Olesia Mykhailenko.
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