CMS has advised Deutsche Bank, Raiffeisen Bank International, Gazprombank, Erste Group Bank and UniCredit on a USD375 million coal export pre-payment facility for DTEK, the largest privately-owned company in Ukraine and largest coal producer in the country. The transaction marks DTEK's first ever pre-export financing.
The facility is structured as one loan with two tranches, consisting of a three-year tranche and a five-year tranche, and the funds drawn under this facility will be used to finance DTEK's export activities. The company exports coal to 36 countries worldwide.
CMS partner Mark Segall, who led the deal, commented: “We were pleased to advise the lenders on this debut pre-export financing, which will support DTEK to further develop its already significant coal export activities. This was a high profile transaction in the energy & natural resources sector, not just in Ukraine but regionally, and confirms our reputation as a leading CEE/CIS Banking & Finance law firm.”
The CMS team advising the lenders was led by Mark Segall and included Alina Tihan and Anushka Nayak from the International Banking & Finance team, together with Vitaliy Radchenko, Victoria Kaplan and Volodymyr Kolvakh (all from CMS in Kyiv), Eduard Scheenstra and Julie van der Touw (from CMS in Amsterdam), and Kaspar Landolt, Dominique Gemperli and Mark Cagienard (from CMS in Zurich).