Ukrainian law firms Avellum and A.G.A. Partners have merged and will operate going forward under the Avellum brand.
Sayenko Kharenko and Linklaters have advised Deutsche Bank, ING, Natixis, and UniCredit, the joint bookrunners of Metinvest's USD 1.592 million Eurobond issue. Metinvest was represented by Allen & Overy and Avellum on the issue, while Redcliffe Partners and Clifford Chance advised the coordinating mandated lead arrangers, with Clifford Chance also advising on the bank debt.
Avellum has advised MHP Lux S.A. on its USD 550 million, 8 year, 6.95% Eurobond issue with the benefit of the guarantees from its Ukrainian subsidiaries. The joint lead managers on the transaction, J.P. Morgan Securities plc, the London Branch of ING Bank N.V., and UBS Limited, were represented by the Kyiv office of Baker McKenzie as to Ukrainian law and by Latham & Watkins' London office as to English and American law.
Sayenko Kharenko has acted as Ukrainian legal counsel to Ukreximbank, the state-owned Export-Import Bank of Ukraine, in connection with UAH 4.051 billion (approximately USD 150 million), 16.5% loan participation notes due 2021. On English law, Ukreximbank was advised by White & Case. The joint lead managers for the issue, Citigroup Global Markets Limited and J.P. Morgan Securities, were advised on Ukrainian law by Avellum and on English law by Latham & Watkins.
Avellum has acted as a Ukrainian legal counsel to PJSC Ukrzaliznytsia, the country’s state-owned rail transport company, on a USD 1 billion collaboration with GE Transportation, a division of the General Electric company. Asters has advised GE Transportation on Ukrainian laws. Sayenko Kharenko has represented Ukreximbank in connection with the inaugural deal.
Ukraine revised transfer pricing rules and introduced new reporting and documentation requirements in 2013. Since then, the rules have been changed every year. And three years after the introduction of the new transfer pricing (TP) rules, we are witnessing an increasing wave of TP audits and the first TP disputes.
Clifford Chance and Avellum have advised the EBRD on a loan of up to USD 350 million to support the modernization and environmental upgrade of Ukraine's largest steel mill, PubJSC ArcelorMittal Kryvyi Rih. ArcelorMittal was advised by Cleary Gottlieb Steen & Hamilton and the Kyiv office of Kinstellar.