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CMS advises ING on USD 80 mln facility to Vioil

21 March 2018

CMS has advised its longstanding client ING Bank N.V. (ING) on yet another financing to the Ukrainian agribusiness sector. ING, as a mandated lead arranger and bookrunner, arranged an $80 million pre-export finance facility to Vioil – one of the largest producers of vegetable oils in Ukraine. The syndicated facility was channeled to Ukrainian exporters to further fund the working capital needs of Vioil group, including to refinance the existing facilities. Given various regulatory restrictions in Ukraine, CMS’ advice also included the structuring of the refinancing, and terms were successfully negotiated with the existing lenders by ING with the vast support of CMS team.

This pre-export facility is for Vioil to meet working capital requirements in the 2017-2018 marketing year, representing the next step in Vioil’s entrance into the international loan capital markets.

The transaction was led by English law qualified Partners Mark Segall and Elitsa Ivanova, and senior associate and Banking & International Finance practice coordinator Kateryna Chechulina.

Kateryna Chechulina commented: “We are proud to support ING in providing financings to the leading agribusiness companies in Ukraine and thus making a valuable contribution to the development of the Ukrainian agribusiness sector. Well-coordinated multijurisdictional advice is the key to the success of the transaction and its timely financial closure. That is what CMS, as a leading international law firm, constantly ensures for its clients.”

Commenting on the cooperation with ING, Elitsa Ivanova added: “We are very happy to have been able to support our key client ING in this transaction.”