The Moscow and Istanbul offices of Dentons have advised the Black Sea Trade and Development Bank on its provision of a seven-year EUR 75 million loan to the Hayat Kimya Group for the construction of a new hygienic tissue and paper towel factory in Kaluga, Russia.
According to Dentons, the total value of the construction project is EUR 134.5 million and, upon completion, the project will constitute the group’s third production facility in Russia.
The BSTDB is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine.
Hayat Kimya is a producer of detergent, hygiene, and tissue products.
The Dentons team included Moscow-based Partner Timothy Stubbs, Counsel Dennis Montgomery, and Associate Arsen Safaryan, and Istanbul-based Partners Tamsyn Mileham and Burcu Boso and Associate Canberk Varis.