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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.

Avellum has advised the Ministry of Finance of Ukraine on the state-guaranteed USD 250 million loan extended to the "Energoatom" State Enterprise National Nuclear Energy Generating Company, which operates all nuclear power plants in Ukraine. Baker McKenzie advised Energoatom.

In The Corner Office, we invite Managing Partners at law firms from across the region to share information about their careers, management styles, and strategies. Our question this time: “What mistake do young associates commonly make that is most frustrating for you?”

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.

There is a “changing season” in Ukraine, says Mykola Stetsenko, Managing Partner at Avellum, who reports an unusual amount of activity to begin the year, in what is normally a quieter period in the market. “I may sound too optimistic — but I am quite positive.”

Avellum at a Glance

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com