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CMS advises ING Bank on ViOil financing

22 October 2020

International law firm CMS continues to advise its long-standing key client, ING Bank N.V. (ING), on various aspects of financing for ViOil Group, a leading vegetable oil producer and exporter. 

CMS supported the syndicate of banks led by ING on the initial $80 million financing granted back in 2017, which was extended and increased to $100 million in 2018. This year the CMS team advised on an ongoing transaction in connection with ViOil’s intragroup corporate restructuring as part of the group’s development strategy to align itself with best international standards and practices. CMS has assisted with further amendments to the facility aimed at improving the Group’s leverage according to the new capital management and the Group’s business plan.

The transaction was led by Mark Segall, CMS Partner and Head of Finance CEE/CIS and supported by a team in Kyiv comprising Ihor Olekhov, Partner, Kateryna Chechulina, Counsel, Khrystyna Korpan, Associate, and Ivan Pshyk, Lawyer. Eduard Scheenstra, Partner, and Jenny Noordermeer, Advocaat, from CMS Amsterdam offered additional support.

Ihor Olekhov comments: “Ukraine’s agriculture continues to grow and develop exponentially.  We are happy and proud to assist ING and its clients with our outstanding knowledge and expertise in agricultural finance transactions. Many international banks are seeing Ukraine as the leading exporter of agricultural products and are ready to contribute to the successes of key players in the market. We will continue to advise on cutting-edge finance products and, thanks to our market-leading advice, make possible unique transactions that would otherwise be unachievable in this market.”

CMS boasts the leading agricultural practice in the market with substantial English and Ukrainian law capability in Kyiv and other CEE/CIS jurisdictions.