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Hogan Lovells has advised coordinating mandated lead manager ING Bank N.V. and mandated lead arrangers Credit Agricole Corporate and Investment Bank, NATIXIS, SGBTCI, AO Raiffeisenbank, Bank of America Merrill Lynch International Designated Activity Company, Mizuho Bank, Ltd., Deutsche Bank AG, London Branch, Bank ICBC (JSC), UniCredit S.p.A., and Intesa Sanpaolo Bank Ireland Plc on a EUR 600 million revolving loan facility agreement with Russia-based steel producer NLMK.

White & Case has advised VTB Bank and a consortium of investors on the RUB 132 billion sale of a 55% stake in Tele2 Russia to Russia's Rostelecom, and on the acquisition of an approximately 29% stake in Rostelecom.

From 1 January 2021, foreign nationals will be able* to enter Russia with electronic visas at border control posts to be specified by the Russian government in a separate document.

Baker McKenzie has advised audio streaming service Spotify on its launch in 13 new markets — Albania, Belarus, Bosnia & Herzegovina, Croatia, Kazakhstan, Kosovo, Moldova, Montenegro, North Macedonia, Russia, Serbia, Slovenia, and Ukraine — giving it a presence in 92 markets worldwide.

On 20 July 2020, laws governing the activities of financial marketplaces came into force, namely, Federal Law* No. 211-FZ “On Concluding Financial Transactions Using a Financial Platform” dated 20 July 2020 and Federal Law* No. 212-FZ “On Amendments to Certain Legislative Acts of the Russian Federation Concerning the Conclusion of Financial Transactions Using a Financial Platform” dated 20 July 2020 (the “Laws”).

Debevoise & Plimpton has advised the NLMK Group on a EUR 600 million revolving credit facility from a group of international banks, with an accordion option allowing the borrower to increase the funding limit up to EUR 1 billion. Hogan Lovells reportedly advised the banks on the deal.

Dentons has announced the appointment of three partners to European practice and sector leadership roles, with Anita Horvath to co-lead the Europe Energy group, Christopher Rose to lead the Global Private Services sector group within Europe, and Thomas Schubert to lead the Europe Venture Technology and Emerging Growth Companies group.

Egorov Puginsky Afanasiev & Partners has advised the VIS Group on the refinancing of a public-private partnership project involving the construction of 12 social infrastructure facilities in Yakutsk through the placing of secured social bonds worth over RUB 5.6 billion. The refinancing was arranged by BKS, Otkritie Bank, DOM.RF Bank, and Sovcombank.

Dentons' Moscow-based Partner Timothy Stubbs was a member of the firm's multi-jurisdictional team advising the European Bank for Reconstruction and Development on the negotiation and execution of a 2002 ISDA Master Agreement for a swap transaction with the Central Bank of Azerbaijan worth a total of USD 200 million.

There are currently multiple initiatives regarding the increase in rates for taxes retained at source under double taxation treaties (“DTTs”) between the Russian Federation and some foreign jurisdictions. The Ministry of Finance confirmed that it favours such increases. At the same time, the Russian State Duma reportedly favours maintaining reduced tax rates in DTTs for intragroup payments in order to mitigate any eventual adverse tax consequences by these new tax measures for foreign investors.

Russian Knowledge Partner

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru

 

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