Avellum acted as Ukrainian legal counsel to Slobozhanska Budivelna Keramika in connection with the restructuring and refinancing of SBK’s debt, valued at approximately EUR 20 million. Wolf Theiss advised the EBRD, one of the lenders, on the matter.
Atlas Advisors, an independent investment banking firm, acted as the exclusive financial advisor to the SBK’s shareholders in connection with the restructuring of the credit portfolio, attraction of financing for the refinancing, and buy-out of SBK’s shares.
Although not confirmed by Avellum and Wolf Theiss, published reports state that the transaction included the restructuring and refinancing of SBC's debt to the EBRD, BNP Paribas, and UkrSibbank, as well as attracting a new loan to refinance existing debt provided by Tascombank. Following the restructuring's completion, the EBRD, BNP Paribas, and UkrSibbank withdrew as shareholders.
SBC is one of the largest producers of facing bricks and porous ceramic blocks in Ukraine. The company was founded in 1997 with the support of America's Western NIS Enterprise Fund. Currently, the majority shareholder of SBC is Austria's MARA Beteiligungsverwaltungs GmbH.
The Avellum team was led by Partner Yuriy Nechayev, with support from Associates Tetiana Mykhailenko, Dmytro Tkachuk, Oleksandr Kulykovskyi, and Anna Mykhalova.
The Wolf Theiss team advising the EBRD included Vienna-based Partner Marcell Nemeth (on English law), and Kyiv-based Senior Associate Oksana Volynets and Associate Mykhailo Razuvaiev.