CMS* has advised ING, one of its key clients, in connection with a bilateral $30 million revolving facilities to Astarta group for their export operations. Astarta is one of the leaders in sugar and agricultural production and one of the biggest industrial milk producers in Ukraine ensuring its efficiency through the use of the best high technologies. The financing included $25 million pre-export revolving loan facility and $5 million multicurrency uncommitted guarantee/ letter of credit issuances revolving credit facility, both extended for a three years term. The deal is the continuation of successful long-lasting cooperation of Astarta and ING.
This and other similar financings provided by ING are very important for Ukrainian agribusiness sector, being one the key sector of Ukrainian economy.
Congratulations to the team led by Mark Segall and Elitsa Ivanova, English law qualified Partners, and Kateryna Chechulina, senior associate and Banking & International Finance practice coordinator and assisted by Khrystyna Korpan (Kyiv) and Plamena Kostadinova (Sofia), with further support from CMS Amsterdam and CMS Zurich.
Kateryna Chechulina commented: “We are happy to further advise ING in connection with their financing activities in Ukraine. We have been advising ING for many years on various financings to the agribusiness sector, which demonstrates strong continuing support of this sector from both ING and CMS.”
* CMS Cameron McKenna Nabarro Olswang Ukraine